Basis of Legal Liability
Each person has certain legal rights. A legal wrong is a violation of a person’s legal rights, or a failure to perform a legal duty owed to a certain person, to a business organization, or to society as a whole.
There are three broad classes of legal wrongs. A crime is a legal wrong against society that is punishable by fines, imprisonment, or death. A breach of contract is another class of legal wrongs. Finally, a tort is a legal wrong for which the law allows a remedy in the form of money damages. The person who is injured or harmed (called the plaintiff or claimant in a legal action) by the actions of another party (the tortfeasor [alleged wrongdoer] or defendant in a legal action) can sue for damages. Insurance companies ...
Get Principles of Risk Management and Insurance, 13th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
