LAW 122 Lecture : Law 122 - Chapter 3 - My Notes.docx
12 Dec 2012
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Tort generally consists of a failure to fulfill a private obligation that was imposed by law. Tortfeasor is a person who has committed a tort. Intentional torts occurs when a person intentionally acts in a certain way. Negligence torts occurs when a person acts carelessly. Strict liability torts occurs when a person does something wrong without intending and without acting carelessly. Liability insurance is a contract in which an insurance company agrees, in exchange for a price, to pay damages on behalf of a person who incurs liability does not cover illegal acts. Duty to defend requires the insurance company to pay the expenses that are associated with lawsuits brought against the insured party. Compensatory function aims to fully compensate people who are wrongfully injured. Deterrence function discourages people from committing torts by threatening to hold them liable for the losses they causes.
