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Why should a business be worried about TORT laws? What makes these laws important to companies?

Why should a business be worried about TORT laws? What makes these laws important to companies?

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Answer #1
  • Tort refers the wrongs committed by the one party which adversely affect other party. These are not criminal offences.

Following are components of Tort law:

  • Duty
  • Breach of Duty
  • Causation
  • Injury

Business firm must exercise full care to avoid chances of being implicated in tort laws. These firms if implicated in such cases are required to compensate affected parties. It will affect working of firm negatively and profits would get dwindled.

These laws are important for companies, these laws make companies to act in most responsible and accountable ways. Further, if companies drift away and get implicated in these laws, brand image of company may get tarnished.

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