LAW 122 Study Guide - Final Guide: Property Insurance, Liability Insurance
22 Oct 2015
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A contract is a legal concept that allows people to make enforceable promises. Risk management is the process of identifying, evaluating and responding to the possibility of harmful events. Study case 1: your ex employee wants to get a new job and you have to write her a ref. letter. You are hesitant because you suspect she stole from your company and the company she is applying to is one of your best costumers. 1. she can sue you under the tort law if you write a letter saying you suspect she stole from you- defamation or be held liable if you refuse to write a letter: evaluate the risk. What are the repercussions of a lawsuit: response: formulate a response. **as a business you cant avoid risks but you can manage them you have to take risks in order to profit. Liability insurance provides a benefit if the purchaser is held liable for doing something wrong.
