Tort reform refers to the proposed changes in the common law civil justice systems that would reduce tort litigation and/or damages. Tort liability imposes significant cost on society. In 1991‚ US has spent a total of $131.6 billion on tort litigation‚ which is approximately 2.3% of the gross domestic product (GDP)1 Studies have shown that the citizens pay a tort tax of $1200 per individual or nearly $5000 for a family of four. 2 Today‚ tort reform is a contentious political issue and its advocates
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Vicarious Trauma Vicarious trauma can have major negative impacts on counselor’s enactment‚ effectiveness‚ personal life‚ and relationships between family and friends. According to Natural (2007)‚ vicarious trauma counselors may suffer cognitive and emotional changes that include not having meaning to life‚ their on safety‚ spiritual certainty and hope. The three vicarious trauma indications that Anna is experience are not being an effective counselor‚ all her work is in vain‚ and not spending
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Supplies’ CEO has asked you to advise him on the facts of the case‚ and your opinion of their potential liability. He wants to settle the case. Write a memo to him which states your view of whether the company is exposed to liability on all issues you feel are in play. Include in your memo any laws which apply and any precedential cases either for or against Teddy’s case which impact liability. Include in the memo your suggested "offer of settlement" to Virginia. Back up your offer using your analysis
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The European Accounting Review 2000‚ 9:3‚ 371 385 Auditor liability rules under imperfect information and costly litigation: the welfare-increasing eŒ of liability ect insurance Ralf Ewert‚ Eberhard Feess and Martin Nell University of Frankfurt‚ Frankfurt am Main ABSTRACT This paper examines auditor liability rules under imperfect information‚ costly litigation and risk-averse auditors. A negligence rule fails in such a setting‚ because in equilibrium auditors will deviate with positive probability
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Principles of Criminal Liability 1/16/2013 Student ID: Word Count: 2482 Criminal activities are very common in our society. With the intention to hamper the property of other people or causing ill effect to others‚ criminal activities are occurred usually. Sometimes people involve themselves with some activities to injure others due to personal clash or from ill temperament. Some activities which may be done to cause simple injury
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ASSETS & LIABILITIES Asset is an item of value owned by the company. Assets can be tangible i.e. those which have some physical existence or can be intangible i.e. which do not exist in physical form but can be held in the form of contracts or rights. Assets are usually grouped in order of liquidity (ease of conversion to cash) on the balance sheet. Cash is therefore the most liquid of all assets. Assets can be classified as: 1.) Current Assets – Those assets that are expected to be converted to
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2011‚ p. 209). Then‚ it has the third element‚ the specificity‚ which means in its ad WHIRETIME‚ Inc.‚ specified the particular party‚ business and product (Melvin‚ S.P.‚ 2011). Janet has signed a contract with BUGusa she is committing intentional tort because she is intentionally leaving one company knowing that she has an agreement. She is intentionally leaving them to go work for the competitor so that she can get more money. She can be held liable for any harm or money loss for BUGusa because
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Contingent liabilities are possible future liabilities that will only become certain on the occurrence of some future events. A contingent liability is less certain than a provision‚ the latter is expected to recognize; however‚ a contingent liability might occur. An entity shall not recognize a contingent liability; nevertheless‚ the company should disclose it‚ as required by paragraph 86‚ unless the possibility of an outflow of resources embodying economic benefits is remote. Where an entity
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Argument against a cap on reward of damages The tort system was created to summarize compensation methods and amounts for wrongs and harms committed by one party to another. Tort law‚ in essence‚ aims to offer the damaged party a chance to restore their state back to its point of origin; in other words‚ the point of tort law is to place a financial obligation on an individual who causes harm to another party. The decision to put a cap on damages is not just harmful‚ but also makes it very
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Nursing Liability The American Nurse Association provides guidelines and policies for standards of care and scope of practice; they are listed in the Nurse Practice act. While hospital policies may vary from facility to facility it is the Nurse Practice Act that guides and dictates the standards by which nurse perform their duties and are held liable. Nurse have the legal duty of adhering to the standards of care whenever they are taking care of patients‚ when they fail to perform to these standard
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