LAW 122 Chapter Notes - Chapter 1: Private Law, Embezzlement, Equal Protection Clause
18 Jun 2013
School
Department
Course
Professor
Document Summary
Chapter 1: risk management and sources of law. Risk management is the process of identifying, evaluating and responding to the possibility of harmful events. Identification: must become concerned about your own liability of being held legally responsible for false accusations and the possibility of being sued. Evaluation: after identifying the risk of being sued you can proceed if you feel sharing your personal suspicions / allegations may be true if they have enough support. Response: now in a position to make an informed decision after identifying and evaluating the risk. Risk avoidance risks that are so serious they should be avoided altogether. Risk reduction some risks can be reduced to an acceptable level through precautions. Risk shifting involves shifting the risk onto another party, through insurance, exclusion clauses and incorporation. Companies are not liable for independent contractors as they are for their own employees.
