BU353 Lecture Notes - Lecture 3: Product Liability, No Liability, Punitive Damages
Document Summary
Source of law: common law: evolved over time through court decisions, statutory law: enacted by government bodies. Defendant is liable if found negligent, but might be able to avoid liability using certain defenses. Defendant is liable even if not negligent, but might be able to avoid liability using certain defenses. Liability for damages caused by automobile accidents. Liability of firms for damages resulting from defective products. Compensatory damages are designed to compensate injured parties for loss. There are two types of compensatory damages: (1) special damages compensation to the plaintiff for monetary losses (2) general damages compensation for nonmonetary losses (ex. pain and suffering) There are also punitive damages which are meant to punish the defendant for their actions as opposed to compensation for plaintiff"s losses. These are reserved for situations where the defendant"s conduct was malicious, oppressive, and reckless. Situations often arise where the actions of multiple parties combine to cause loss.
