BLAW 2910 Study Guide - Midterm Guide: Fiduciary, False Imprisonment, Moodle
Document Summary
Tort: is an action that causes injury to people or damage to property. It is a civil wrong, other than a breach of contract. Slipping and falling in the grocery store and breaking your leg. Tort judgements are expensive and a public relations nightmare. Law suits like this can be really bad for a company, even if the suit gets dropped. It can cost a ton of money and cause severe reputation damage to a company. Vicarious liability- companies must keep in mind that one liability imposed on one party (often an employer) for the harmful actions or omissions of another (often an employee). An employer will carry errors and omissions liability insurance so they don"t take the fall for employees who do or fail to do something correctly. Vicarious liability holds an employer responsible for the torts that its employees commit while doing their jobs. You can also minimize your risk by training and monitoring your employees.
