BU231 Study Guide - Midterm Guide: Fiduciary, Intentional Tort, Vicarious Liability
Document Summary
Tort = a wrongful act causing harm to the person or property of another: purpose: to compensate victims for harm caused by the activities of others. Identifies a set of circumstances that creates a right to claim compensation. At first, courts only recognized direct injuries not the ones that were indirectly caused. Fault: unjustifiable conduct that intentionally or carelessly disregards the interests of others, therefore, people will be more careful if they must pay for the consequences of their carelessness, but the compensation system also has faults. Victims who cannot establish fault go uncompensated. Those who can establish fault of a large corporation tend to be over compensated. In most areas of tort law, liability is imposed on a fault basis. Strict liability liability that is imposed based upon causation regardless of fault: some activities are dangerous no matter the amount of care taken.
