Discussion: Torts and Business Torts
Torts are detrimental to society because they not only harm consumers but they raise the overall cost of products when the company inevitably passes on the costs of the lawsuit to these consumers. In the end, it should be admitted that the latter ones pay for corporate malfeasance. Unlike many other torts involving bodily injury or property harm, business torts entail damage to someone else’s corporate interests (Hayes, 2022). These may include lost investment opportunities, buyers, and business relationships, among other things. As a result, many corporate torts are related to expenses that may happen in the future instead of losses that have already occurred. Many company tort claims entail a complicated calculation of the defendant’s long-term losses as a consequence of this facet.
Here, it would be reasonable to state that a company can prevent committing a tort. For instance, a good option is to always hire a lawyer responsible for the legal part of any agreement and activity signed and undertaken by the corporation. Then, a firm can develop and implement its corporate code that would determine the direction and scope of its actions. This code should align with the current related domestic and international laws in the framework of business affairs.
The difference between strict liability and negligence is the extent of care that the offender is expected to provide. Negligence occurs when a rational degree of care is not provided. Strict liability often does not imply a certain amount of care (OAL Admin, 2018). Rather, it imposes liability on an organization whose acts resulted in harm despite the absence of fault or intent. In turn, the way defendants must pay for the damage they cause is a difference between negligence and intentional torts. In the case of the latter, all liable defendants must pay the entire claim (Geistfeld, 2017). This differs from the former, in which the defendant is only responsible for their portion of the damages.
References
Geistfeld, M. (2017). Conceptualizing the intentional torts. Journal of Tort Law, 10(2), 159–196.
Hayes, A. (2022). Tort law definition. Investopedia. Web.
OAL Admin. (2018). What are the differences between strict liability, negligence, and intentional torts? NMR Trial Attorneys PC. Web.