Recognizing and Minimizing Tort and Regulatory Risk
- Submitted by: sdguy2202
- Views: 685
- Category: Politics: Economics
- Date Submitted: 08/01/2010 10:47 AM
- Pages: 4
- Report this Essay
Recognizing and Minimizing Tort and Regulatory Risk
Alumina Inc. are best and widely known as an aluminum maker company. Within the years of existence they’ve totaled $4 billion in sales revenue. Stationed in the United States 70% of Alumna’s sales are obtained from the US market as the rest is derived from 8 international countries. Unfortunately Alumina wasn’t so fortunate. Five years ago they were found accountable of opposing Federal Laws and are currently facing tort liabilities. Due to all the current actions of complaints and lawsuits the company faces potential negative risks in their company.
The plan is to manage tort liabilities and regulatory risks though preventive, detective along with corrective measures. The target is to assist Alumina and ease their liabilities and legal matters with the potential t get them back on their feet.
Tort is a body of law that addresses, and provides remedies for, civil wrongs not arising out of contractual obligations. There are 3 different types of torts: Negligence, intentional and strict tort liability. Negligence torts are ones committed out of negligence and have no direct intention. An example would be driving carelessly and ending in an accident. An intentional tort is committed intentionally such as striking at another person. Strict liability is considered with a direct intention. It’s something done with consideration. There are also other torts such as personal and property. Insulting actions are measured as personal torts and trespassing is considered a property tort.
Many businesses nowadays compete with tort liability and management. To operate a business effectively proper management protective measures are key limiting the business to be exposed to tort liability. The most noteworthy torts liability discovered in the case of Alumina were Defamation, liability and negligence.
Strict Liability
Strict liability can be the outcome of the breach of a ruling also...
Alumina Inc. are best and widely known as an aluminum maker company. Within the years of existence they’ve totaled $4 billion in sales revenue. Stationed in the United States 70% of Alumna’s sales are obtained from the US market as the rest is derived from 8 international countries. Unfortunately Alumina wasn’t so fortunate. Five years ago they were found accountable of opposing Federal Laws and are currently facing tort liabilities. Due to all the current actions of complaints and lawsuits the company faces potential negative risks in their company.
The plan is to manage tort liabilities and regulatory risks though preventive, detective along with corrective measures. The target is to assist Alumina and ease their liabilities and legal matters with the potential t get them back on their feet.
Tort is a body of law that addresses, and provides remedies for, civil wrongs not arising out of contractual obligations. There are 3 different types of torts: Negligence, intentional and strict tort liability. Negligence torts are ones committed out of negligence and have no direct intention. An example would be driving carelessly and ending in an accident. An intentional tort is committed intentionally such as striking at another person. Strict liability is considered with a direct intention. It’s something done with consideration. There are also other torts such as personal and property. Insulting actions are measured as personal torts and trespassing is considered a property tort.
Many businesses nowadays compete with tort liability and management. To operate a business effectively proper management protective measures are key limiting the business to be exposed to tort liability. The most noteworthy torts liability discovered in the case of Alumina were Defamation, liability and negligence.
Strict Liability
Strict liability can be the outcome of the breach of a ruling also...