BUSFIN 3500 Study Guide - Midterm Guide: Palming, False Light, Rolex

• School: Ohio State University
• Department: Business Admin : Finance
• Course: BUSFIN 3500
• Professor: Blackburn John

Document Summary

Tort - a civil wrong other than a breach of contract. The law recognizes the right of a victim of a tort to recover compensation in the form of money damages from the wrong doer. A tort is not a crime although may lead to criminal proceedings. A breach of contract is not a tort. Tort duties arise by operation of law and exit whether or not a person agrees to them. Tort laws reflect the determination of which injuries should be compensated, which interests to be protected, which conduct deterred. The liability of the business is determined under respondeat superior (let the master answer: also called the principle of vicarious liability. This declares the business responsible for any employee that commits a tort while within the scope of the employment: ex: pizza delivery guy crashes car while delivering pizza. The pizza business is responsible for damages to other motorist. Intentional torts: voluntary acts that invade a protected interest.