Compare and contrast contract versus tort law.
Homework Answers
ANSWER :
CONTRACT : Contract is defined as legal agreement which is established by the mutual understandings of the people and to restore the damaged party of people.
TORT LAW : Tort laws are defined as a law jurisdiction wrong or civil wrong. They compensate to suffering parties or people for their damages or sufferings by the jurisdiction.
The most important difference of contract and tort laws is the consent issue. In contract law, the award is provided to take back parties position again where it has damaged before the occur of breach. Whereas in tort claims the award is awarded to parties for their losses or damages that has occur, where it punishes the defendant.
Generally, the auditor could be legally liable: O under contract law but not under the tort...
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