Economic Law

Economic Law

Introduction

This paper intends to discuss the law of torts. The demonstration of economic analysis to the legal issues being raised by the topic of tort law will be provided in this paper. There are always instances in which people tends to make losses to other people and thus laws are required to be made in order to minimize the consequences of the losses. The Tort Law is a legal system serving the society with systematic guidelines. The law focuses on compensating the loss or damage suffered by people due to any incident that is known as tort, rather than punishing people. The acts are not necessarily intentional as they solely depend on the nature of the activity. The purpose of this paper is to make the reader aware about the different and important aspects of the law of tort.

Discussion

There are some fundamentals defined for the law that relate to the punishments for the claimants. There is a relationship between the neighbor principle and proximity test which is explained. There are also aspects for the establishment of a duty of care. Apart, the theories and policies are the specific roles of the human rights and public policies (Steele, 2007). Comparisons among various legal traditions have always provided a rich source of in-depth analysis in the theoretical stature of contemporary law. The domain in law that deals with the civil wrongs which harm an individual unreasonably or unintentionally from the actions of others is called the 'Law of Tort'. The wrongs refer to the claims by the party who have been harmed or injured (Jed, 2000). These torts are under involvement of the state law under legal premise, in which the individuals creating such harms or damages are liable for the punishment or penalty. Tort is further divided into 3 categories: intentional torts, negligent torts, and strict liability (Ahmad, 2008).

Intentional Torts

The harms or damage done to anyone with willingness (intentionally) are intentional torts. The examples for this category are theft, assault, or fraud. The harms which are made intentionally fall under this category.

Negligent Torts

These torts occur with neither expectations nor intentions, when an individual's action accidentally results into a harm or damage like car accidents. Most of the examples relevant to the law of tort seem to be finding within this category.

Strict Liability

These are neither intentional nor negligent torts and are occurred by an act of any individual itself. The familiar example is if anyone produces a defective product, it will later on create harm for the people. The incidents that cause injuries from unintentional activities lie under this domain. The common incidents under this domain have been regarding environmental torts in which the defendant has no intention to create harm and nether expects such occurrence (Drendek, 1994). They usually come out of mishaps.

Carelessness is a tort which objectives a violation of work by one individual to another (Jed, 2000). The organization of a work of health care is, like carelessness itself, damaged up ...