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1.03 Business Law Key Terms

AB
Actual HarmVictim suffers an injury, has property destroyed or loses a lot of money
Alternative Dispute Resolutionoccurs when parties try and resolve a disagreement outside of the usual court system
Arbitrationgiving power to settle their dispute to a third party (Advantage: often results in a fair solution because the decision is in the hands of an objective third party)
Assaultoccurs when one person intentionally puts another in reasonable fear of an offensive or harmful bodily contact
Assumption of Riskdefense raised when the plaintiff knew of the risk involved and still took the chance (assumed risk) of being injured
Batteryharmful/offensive touching of another
Breachwhen you breach or break your duty to another person
Causationmeans that breach of duty caused the injury
Comparative Negligencedefense that is raised when the carelessness of each party compared to the other party's carelessness
Contributory Negligencedefense whenever the defendant can show that the victim did something that helped cause his or her own injuries
Conversionwhen property is stolen, destroyed or used in a manner that is inconsistent with an owner's rights
Court Injunctionscourt order that prevents a party from performing a specific act and may be temporary of permanent
Damagespayment recovered in court by a person who has suffered an injury
Defamationfalse statement that injures a person' reputation or good name
Dutyobligation to use a reasonable standard of care to prevent injury to others
False Imprisonmentintentional confinement of a person against the person's will and without the lawful ability to do so
Fraudoccurs 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 Contractsif a third party encourages a breach in anyway, then that third party may be liable in tort
Invasion of Privacyuninvited intrusion into a person's personal relationships and activities
Mediationoccurs when parties to a dispute invite a mediator, to help solve problem (Advantage: final decision remains in the hands of the parties)
Money Damagesmoney damages are received as if you suffer a loss as an injured party
Negligencea tort that results when one person carelessly injures another. It is an accidental tort and requires no intent
Proximate Causewhen it is reasonably foreseeable that a breach of duty will result in an injury
Punitive Damagesmoney payments for damages that go beyond what the innocent party actually lost. Designed to punish the wrongdoer
Torta private wrong committed by a one person against another
Trespass to Landentry onto the property of another without consent
Vicarious Liabilitywhen one person is liable for the torts of another


Teacher
East Burke High School
Connelly Springs, NC

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