Minimizing Tort and Regulatory Risk A tort is an act by a business that results in injury to a person, property, or good name. In most cases the person injured is entitled to compensation (Jennings, 2006). It is in the businesses best interest to be educated on local, state, and federal laws and regulations to reduce regulation and tort liability. A business must protect its assets, earnings, and good name. A company must have a plan in place to reduce and eliminate fines, penalties, and tort liability
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Bullies on the Job The video Bullies on the Job poses the question of whether or not psychological abuse is a form of harassment. The manager in a professional environment may utilize several measures to prevent intentional torts. The act of bullying may give way to torts related to mental distress, pain and suffering, and hostile environment First, a manager should lead by example. Setting clear expectations that bullying is not allowed will set the tone for the company. Employees should be trained
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would fall under intentional torts and in particular the invasion of privacy. Under intentional torts there are four limbs of privacy torts. These are appropriation, intrusion, false light and public disclosure of embarrassing private facts. However, the fact pattern that is depicted in the case scenario discloses an element of intrusion which is an electronic, physical or mechanical intrusion in another person’s private space (McWay, 2010). This form of tort requires that the complainant
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Scenario 2: Anna orders a meal in an Italian restaurant. After her food is served, she takes a bite and cries out in pain. She has bitten down on a piece of glass. Upon hearing Anna’s cry, another waiter who is pouring wine at a nearby table spins around and bumps into Anna’s waiter, who is carrying a flaming dish. The flaming dish tilts onto Anna’s waiter, and his apron catches fire. He rips it off and casts it aside, where it ignites another tablecloth. People start screaming and run for the door
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JPMorgan Chase Bank Risks Abstract: Fraud has remained a predominant factor in the trade of stocks, shares and other securities because of its unpredictability. The government has laid down many structures and developed enormous laws and enforcement agencies to handle the same. JPMorgan investment bank stands as an example of how hard it is to combat high-risk gambling, given that a bank of its standing and success could fall a victim of the same, notwithstanding the implication
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Human Resource Management Institute (HRMI) Edexcel BTEC HND in Business – HRM – Batch 1/3 /M/E Unit No/Title: Unit 5/ Aspect of Contract and Negligence for Business Unit Code: Y/601/0563 Assignment No: 1 / 1 Assignment Title: Contracts and Negligence Law Unit Outcomes/Grade Descriptors Covered: |LO1.1 | |………………………………………………………….. |
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is dedicated to contract law, as the making and performance of contracts form the rudiment of all businesses. Students will also be introduced to the law of torts, in particular the tort of negligence. Other legal areas and concepts which, at the instructors’ discretion, will be taught include privity of contract, agency, business torts, commercial crime, e-commerce law, law of business organizations, intellectual property and international legal aspects of business. Upon completion of the course
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ACCEPTANCE…………………………………………5 CASE STUDY 2: CONSIDERATION……………………………………………………..6 CASE STUDY 3: INTENTION TO CREATE LEGAL RELATION……………………..7 CASE STUDY 4: contractual terms……………………………………………...……7-8 CASE STUDY 5: exclusion clause……………………………………………………8-9 CASE STUDY 6: Tort of negligence …...……………………………………………9-11 CASE STUDY 7: vicarious liability……………………………………………………12. REFERENCE LIST………………………………………………………………………..13 EXECUTIVE SUMMARY CASE STUDY 1: OFFER AND ACCEPTANCE This case involves term such as: offer, acceptance
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1. Willingness to pay: The willingness to pay (WTP) is the maximum amount a person would be willing to pay, sacrifice or exchange in order to receive a good or to avoid something undesired. Willingness to pay is the fundamental building blocks of demand functions and hence our ability to estimate demand elasticity and consumer surplus and willingness-to-pay measures can be used to study the screening and causal effects of prices. The firm must know or be able to infer consumers’ willingness to pay
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Communication Channel Scenarios Senario 1 In scenario one, the vice president of operations charges the manager with rapidly putting together a strategy with his team. The compressed time line for the development of a strategy requires a communication rich channel to enable the team to work quickly with maximum feedback to the effort in near real time. The team must include as many ideas as possible first before breaking off to research the data necessary to build a strong supporting argument
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