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1.03 Key Terms

Business Law

TermDefinition
Actual Harm The victim suffers an injury, has property destroyed or loses a lot of money.
Alternative Dispute Resolution occurs when parties try and resolve a disagreement outside of the usual court system
Arbitration giving the power to settle their dispute to a third party.
Assault occurs when one person intentionally puts another in reasonable fear of an offensive or harmful bodily contact
Assumption of Risk a defense raised when the plaintiff knew of the risk involved and still took the chance (assumed risk) of being injured
Battery the harmful or offensive touching of another
Breach when you breach or break your duty to another person
Causation means that breach of duty caused the injury
Comparative Negligence a defense that is raised when the carelessness of each party compared to the other party’s carelessness
Contributory Negligence a defense whenever the defendant can show that the victim did something that helped cause his or her own injuries
Conversion when property is stolen, destroyed or used in a manner that is inconsistent with an owner’s rights
Court Injunctions is a court order that prevents a party from performing a specific act and may be temporary of permanent
Damages is a payment recovered in court by a person who has suffered an injury
Defamation a false statement that injures a persons’ reputation or good name
Duty the obligation to use a reasonable standard of care to prevent injury to others
False Imprisonment the intentional confinement of a person against the person’s will and without the lawful ability to do so
Fraud occurs when there is an intentional misrepresentation of an existing important fact (that is a lie) which causes the victim to give up a right or something of value
Interference with Contracts if a third party encourages a breach in any way, then that third party may be liable in tort
Invasion of Privacy uninvited intrusion into a person’s personal relationships and activities
Mediation occurs when parties to a dispute invite a mediator, to help solve the problem
Money Damages are money damages received as if you suffer a loss as an injured party
Negligence is a tort that results when one person carelessly injures another. It is an accidental tort and requires no intent.
Proximate Cause when it is reasonably foreseeable that a breach of duty will result in an injury.
Punitive Damages are money payments for damages that go beyond what the innocent party actually lost. Designed to punish the wrongdoer
Tort is a private wrong committed by one person against another
Trespass to Land entry onto the property of another without consent
Vicarious Liability when one person is liable for the torts of another
Created by: kbnthomas