MCS 3040 Lecture Notes - Lecture 2: Contingent Fee, Punitive Damages, Garnishment

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joseph Radocchia

Document Summary

Mcs 3040 final exam notes: chapter 4, 10 & 11. Pollution incident, motor vehicle accident, hacking attempt, bylaw changes, equipment breakdown, damaged goods, employee problems, delinquent customers. Alternative dispute resolution (adr) a range of options for resolving disputes as an alternative to litigation. Can be less costly and less time-consuming. Ea(cid:272)h side (cid:272)a(cid:374) agree o(cid:374) a(cid:374) out(cid:272)o(cid:373)e it (cid:862)(cid:272)a(cid:374) li(cid:448)e (cid:449)ith(cid:863) (cid:449)here litigatio(cid:374)s o(cid:374)ly o(cid:374)e side (cid:272)a(cid:374) (cid:862)(cid:449)i(cid:374)(cid:863) Negotiation a problem-solving process in which parties discuss their differences and attempt to reach a mutually agreeable resolution. Can be used to solve virtually any type of dispute: lawyers can be of assistance. The loss is one for which there is insurance, the insurer should carry out the negotiations or insurance coverage can be jeopardized. Mediation a neutral person, called a mediator, assists the parties in reaching a settlement of their dispute: can be used for most disputes, parties choose the mediator.