FIN 240 Chapter Notes - Chapter 6: Intentional Tort, Punitive Damages, Gross Negligence
Document Summary
Torts - civil wrong not arising from a breach of contract. Breach of a legal duty that proximately causes harm or injury to another. Purpose of tort law is to provide remedies for the violation of various protected interests. Society recognizes an interest in personal physical safety. Provides remedies fr acts that cause physical injury or that interfere with physical security and freedom of movement. Provide remedies for acts that cause destruction of or damage to property. Damage - harm or injury to persons or property. Damages - monetary compensation for such harm or injury. Compensatory damages - compensate or reimburse the plaintiff for actual losses. Goal is to make the plaintiff whole and put them in the same position that they would have been in had the tort not occurred. Special damages - compensate the plaintiff for quantifiable monetary losses, such as medical expenses and lost wages and benefits.
