Question

Outline and explain two (2) types of torts a business may be liable for and explain...

Outline and explain two (2) types of torts a business may be liable for and explain why. Then, explore some of the steps a company may take to avoid liability for the torts you discussed. Be sure to provide legal support for your analysis.

0 0
Add a comment Improve this question Transcribed image text
Answer #1
  • Business torts, also called "economic torts," are wrongful acts committed against business entities -- often intentional but sometimes due to negligence or recklessness -- that cause (or are likely to cause in the future) some kind of financial loss. They are not criminal offenses, although some business torts also may be charged as such (including restraint of trade in some cases).
  • Businesses that are financially injured through the intentional or negligent act of another business or individual may seek monetary damages in civil court, although sometimes courts will issue injunctions ordering the defendant to cease certain unlawful activities.
  • These intentional torts are not committed against persons or property. Instead, the harm done is to intangible assets, such as economic interests or business relationships.
  • Fraudulent misrepresentation, known also as fraud or deceit, protects economic interests and the right to fair and honest treatment. For a fraud claim, a plaintiff must establish that the defendant intentionally misrepresented a material fact and the plaintiff relied on and was harmed by the misrepresentation.
  • For example, if a business submits materially misleading financial statements to a bank in an attempt to secure a loan and the bank, relying on such statements, lends money to the business, the bank will have a fraud claim against the business if the business later defaults on the loan.
  • Negligence is distinguished from intentional torts because there is a lack of intent to cause harm.
  • An emerging area in tort law is whether or not businesses have a duty to warn or protect customers for random crimes committed by other customers. By definition, crimes are random and therefore not foreseeable.
  • However, some cases have determined that if a business knows about, or should know about, a high likelihood of crime occurring, then that business must warn or take steps to protect its customers.
  • For example, in one case a state supreme court held that when a worker at Burger King ignored a group of boisterous and loud teenagers, Burger King was liable when those teenagers then assaulted other customers.
  • Businesses owe a duty to exercise a reasonable degree of care to protect the public from foreseeable risks that the owner knew or should have known about. There are many foreseeable ways for customers to be injured in retail stores, from falling objects improperly placed on high shelves, to light fixtures exploding or falling due to improper installation, to customers being injured by forklifts in so-called warehouse stores.
  • Due to time limit,remaining question can be asked as another question,it will be answered,thankyou for your cooperation
Add a comment
Know the answer?
Add Answer to:
Outline and explain two (2) types of torts a business may be liable for and explain...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • what needs to be proven in order to find an accountant liable for negligence? explain the...

    what needs to be proven in order to find an accountant liable for negligence? explain the four elements. conduct some internet research and find a case that involves an accountant being found megligent. Briefly state the facts of the case and explain the court's decision. provide at least a paragraph of your analysis-do you agree with the court's decision--why or why not? provide a reference to the case that is used

  • Create a SWOT analysis for the business you are pitching in Week 8. Thoroughly outline the...

    Create a SWOT analysis for the business you are pitching in Week 8. Thoroughly outline the factors in each of the 4 categories. How will your capitalize or negate each of the potentials advantages and disadvantages you have identified? These are 3 business ideas I had that we can choose one of for this post (only one of these business ideas to do a SWOT analysis): 1. Hand craft and art gallery for kids in malls to keep them busy...

  • R14-2 Differentiate between the two types of subsequent events. List some audit procedures that may identify subseq...

    R14-2 Differentiate between the two types of subsequent events. List some audit procedures that may identify subsequent events? LO2 R14-3 Discuss the auditor's responsibility for detecting subsequent events prior to the completion of field work. LO2 R14-4 Explain the process of "engagement wrap-up?" Why is it important? LO3 R14-5 Provide an example of why an auditor would reevaluate control risk near the end of the audit. Provide a different example of why an auditor would reevaluate fraud risk near the...

  • It is often said that a small business has unlimited liability because it is a sole...

    It is often said that a small business has unlimited liability because it is a sole proprietorship even if the owner incorporates. Explain why you agree or disagree with this statement. Be sure to provide support for your statements. If any sources are used please provide citation. Thank You Small Business Finance Course!

  • Read the following scenario. A family-owned business can have special complications. The line separating family relationships...

    Read the following scenario. A family-owned business can have special complications. The line separating family relationships and legal responsibilities can be unclear. It is important for directors, officers, and owners of a family-owned business to be aware of the issues to avoid misunderstandings and unintended liability and to preserve familial relationships. You are a consultant advising a "mom and pop" grocery store owned by Jeff and Joan, a married couple, and their two adult children, Martha and Henry. The grocery...

  • how a mutual fund is structured. Make sure to explain why mutual fund fee's may or may not be worth the cost to you. Comment on why you might want to invest in a mutual fund instead of a good stoc...

    how a mutual fund is structured. Make sure to explain why mutual fund fee's may or may not be worth the cost to you. Comment on why you might want to invest in a mutual fund instead of a good stock. Do not take any short cuts answering this question this week, I want detail. This is the investment tool that most individuals use. The companies provide detailed information for you to review every month. There are many types of...

  • Bus499 W10 Ass4 Develop an eight to twelve slide PowerPoint presentation(OUTLINE) about Walmart. You will make...

    Bus499 W10 Ass4 Develop an eight to twelve slide PowerPoint presentation(OUTLINE) about Walmart. You will make recommendations to the Board of Directors based upon your analysis and decision on why the corporation remains or is not a good fit for you. If I choose to work at Target, Determine the impact of the company’s mission, vision, and primary stakeholders on its overall success as a competitive employer in the industry. Create a SWOT analysis for the company to determine its...

  • In your own works, please explain the primary types of business entities. Be sure to include...

    In your own works, please explain the primary types of business entities. Be sure to include the principal characteristics and ownership characteristics of each business entity. What are the pro and cons of each type of entity? Why do different types of business entities allow for unique ownership structures? Do you believe ownership structure an important factor for business owners when selecting a business entity?

  • country is china. please don't handwrite Country Analysis and Market Entry PAPER OUTLINE 1. 2-page Execu...

    country is china. please don't handwrite Country Analysis and Market Entry PAPER OUTLINE 1. 2-page Executive Summary Assessment country's valuable business management and economic insights (current opportunities, challenges and risks) Country Analysis and Market Entry PAPER OUTLINE 2.1-page Market Analysis Identify a new product opportunity (not retail, service or infrastructure) that you believe will succeed in that country. (you cannot pick an existing brand). Explain or give your rationale why does the country represent a good market opportunity for your...

  • 1. Name two other types of business organizations other than Sole proprietorship and define and explain...

    1. Name two other types of business organizations other than Sole proprietorship and define and explain the differences between all the three 2. Compare and contrast obtaining a charter of incorporation in the State of Georgia with obtaining one in the State of Delaware. 3. If a company obtains a charter of incorporation in the State of Georgia and decides to operate in both Georgia and the State of Ohio, what would be your advice regarding the owner arguing that...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT