mkt100 Lecture Notes - Lecture 5: Life Insurance, Insurable Interest, Product Liability
Document Summary
Negligence: the most common tort because it was accidental, plaintiff must prove all the elements (requirements) of negligence: Must prove all requirements otherwise plaintiff will not win. Court can limit your liability to reasonable state (cid:894)so (cid:455)ou"(cid:396)e (cid:374)ot lia(cid:271)le to the whole world: misfeasance and nonfeasance ie. misfeasance- doing something actively (hitting someone with your car) nonfeasance- failing to act. (not telling someone something. Failing to act if you caused harm to someone) if you create danger you must remedy it. Piano falling from 4th floor, the people handling the piano were obviously negligent) Causation test being the cause of the incident: harm suffered must be a fo(cid:396)eseea(cid:271)le (cid:396)esult of defe(cid:374)da(cid:374)t"s a(cid:272)tio(cid:374)s, the causation test refers to the type of injury. Damages (actual harm: negligence requires actual harm or loss, economic loss, property damage, bodily injury, mental suffering due to physical injury or a recognized medical condition (post- traumatic stress, clinical depression)
