Risk Management Chapter 10 (Exam 1)

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straightupdeme
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136555
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Risk Management Chapter 10 (Exam 1)
Updated:
2012-09-26 07:32:01
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Risk Management Chapter 10
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Risk Management Chapter 10
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  1. Legal Wrong
    a violation of a person's legal rights, or a failure to perform a legal duty owed to a certain person or to society as a whole
  2. Tort
    a legal wrong for which the law allows a remedy in the form of money damages
  3. Plantiff or Claimant
    the person who is injured or harmed
  4. Defendant or Tortfeasor
    by the actions of another person can sue for damages
  5. Strict Liability
    liability is imposed regardless of negligence or fault
  6. Negligence
    the failure to exercise the standard of care required by law to protect others from an unreasonable risk of harm
  7. Special Damages
    awards for losses that can be determined and documented, such as medical expenses, lost earnings, or property damage
  8. Compensatory Damages
    awards that compensate injured victims for the losses actually incurred
  9. Punitive Damages
    awards designed to punish people and organizations o that others are deterred from committting the same wrongful act
  10. Proximate Cause
    a cause unbroken by any new and independent cause, which produces an event that otherwise would not have occured
  11. Contributory Negligence
    if the insured person's conduct falls below the standard of care required for his or her protection, and such conduct contributed to the injury, the insured person cannot collect damages
  12. Comparative Negligence
    if both the plantiff (injured person) and the defendant (partly accused of negligence) contribute to the plantiff's injury, the financial burden of the injury is shared by both parties according to their respectable degrees of fault
  13. Last Clear Chance Rule
    which states that a plantiff who is endangered by his or her own negligence can still recover damages from the defendant if the defendant has a last clear chance to avoid the accident but fails to do so
  14. Assumption of Risk
    doctrine is another defense that can be used to defeat a claim for damages
  15. Imputed Negligence
    under certain conditions, the negligence of one person can be attributed to another
  16. Vicarious Liability Law
    by which a motorist's negligence is imputed to the vehicle's owner
  17. Family Purpose Doctrine
    the owner of an automobile can be held liable for the negligent acts committed by immediate family members while they are operating the family car
  18. Dram Shop Law
    a business that sells liquor can be held liable for damages that may result from the sale of liquor
  19. Res Ipsa Loquitur
    the very fact that the injury or damage occurs establishes a presumption of negligence on behalf of the defendant. It is then up to the defendant to refute the presumption of negligence
  20. Trespasser
    a person who enters or remains on the owner's property without the owner's consent
  21. Licensee
    a person who enters or remains on the premises with the occupant's expressed or implied permission
  22. Invitee
    a person who is invited onto the premises for the benefit of the occupant
  23. Attractive Nuisance
    a condition that can attract and injure children
  24. Sovereign Immunity
    that the king or queen can do no wrong
  25. Proprietary Function
    the operation of water plants; electrical, transportation, and telephone systems; municipal auditoriums; and similar money-making activities
  26. Respondeat Superior
    an employer can be held liable for the negligent acts of employess while they are acting on the employer's behalf

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