Risk Management and Insurance: Chapter 19

  1. Plantiff
    the person who is injured or harmed
  2. Defendant
    the person who injured the plantiff
  3. Legal Wrong
    a violation of a person's legal rights, or a failure to perform a legal duty owed to a certain person or to society as a whole
  4. Strict Liability
    that liability is imposed regardless of negligence or fault
  5. Negligence
    as the failure to exercise the standard of care required by law to protect others from an unreasonable risk of harm
  6. Special Damages
    awards for losses that can be determined and documented, such as medical expenses, lost earnings, or property damage
  7. General Damages
    awards for losses that cannot be specifically measured or itemized, such as compensation for pain and suffering, disfigurement, or loss of companionship of a spouse
  8. Punitive Damages
    awards designed to punish people and organizations so that others are deterred from committing the same wrongful act
  9. Proximate Cause
    a cause unbroken by any new and independent cause, which produces an event that otherwise would not have occured
  10. Contributory Negligence
    if the injured person's conduct falls below the standard of care required for his or her protection, and such conduct contributed to the injury, the injured person cannot collect damages
  11. Comparative Negligence
    if the both the plantiff (injured person) and the defendant (partly accused of negligence) contribute to the plantiff's injury, the financial burden of the injury is shared by both parties according to their respective degrees of fault
  12. Pure Rule
    you can collect damages for your injury even if you are negligent, but your award is reduced proportionately
  13. 50 Percent Rule
    you cannot recover if you are 50 percent or more at fault
  14. 51 Percent Rule
    you cannot recover if your are 51 percent or more at fault
  15. Last Clear Chance Rule
    a plantiff who is endangered by his or her own negligence can still recover damages from the defendant if the defendant has a last clear chance to aviod the accident but fails to do so
  16. Assumption of Risk
    a person who understands and recognizes the danger inherent in a particular activity cannot recover damages in the event of an injury
  17. Imputed Negligence
    the negligence of one person can be attributed to another
  18. Vicarious Liability Law
    by which a motorist's negligence is imputed to the vehicle's owner
  19. Family Purpose Doctrine
    the owner of an automobile can be held liable for the negligent acts committed by immediate family memebers while they are operating the family car
  20. Dram Shop Law
    a business that sells liquor can be held liable for damages that may result from the sale of liquor
  21. Res Ipsa Loquitur
    the very fact that the injury or damage occurs establishes a presumption of negligence on behalf of the defendant. It is then up to the defendant to refute the presumption of negligence
  22. Trespasser
    a person who enters or remains on the owner's property without the owner's consent
  23. Licensee
    a person who enters or remains on the premises with the occupant's expressed or implied permission
  24. Invitee
    a person who is invited onto the premises for the benefit of the occupant
  25. Attractive Nuisance
    a condition that can attract and injure children
  26. Sovereign Immunity
    that the king or queen can do no wrong
  27. Governmental Functions
    government entities can be sued in almost every aspect of government activity, including false arrest, failure to meet certain standards of care, and failure to arrest
  28. Respondeat Superior
    an employer can be held liable for the negligent acts of employees while they are acting on the employer's behalf
  29. Collateral Source Rule
    the defendant cannot introduce any evidence that shows the injured party has received compensation form other collateral sources
  30. Joint and Several Liability Rule
    several people may be responsible for the injury, but a defendant who is only slightly responsible may be required to pay the full amount of damages
  31. Alternative Dispute Resolution (ADR)
    a technique for resolving a legal dispute without litigation
  32. Arbitration
    a technique by which parties in a dispute agree to bound by the decision of an independant third party
  33. Mediation
    a technique by which a neutral third party tries to arrange a settlement without resorting to litigation
Card Set
Risk Management and Insurance: Chapter 19
Risk Management and Insurance: Chapter 19