BUSI 2601 Chapter Notes - Chapter 3: Contributory Negligence, Lawbreakers, Breach (Security Exploit)

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11 Feb 2023
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Tort - an act or omission that causes injury to people or damage to property or economic interests, other than an injury that arises from a breach of contract. Omission can lead to both criminal & tort liability. Focuses on harm caused to individuals, property and businesses. The injured person must be the one bringing an action for damages arising from tort court won"t prosecute it on their own. If a tort causes very serious harm, the state would launch a criminal investigation to determine if a criminal prosecution is warranted. Purpose is to punish lawbreakers in the name of the state and prevent further crimes. Tort action seeks to compensate people and businesses harmed. Tort judgements are expensive, bc large awards to plaintiffs can cause insolvency to the prosecuted business. Tort judgements are a public relations nightmare, and can damage reputation.

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