Definition of "Tort law"

Denise Dutson real estate agent

Written by

Denise Dutsonelite badge icon

Kinlin Grover Real Estate

Legislation governing wrongful acts, other than breaches of contract by one person against another or his or her property, for which civil action can be brought. Tort law and contract law define civil liability exposures. The four areas of torts are negligence, intentional interference, absolute liability, and strict liability. For example, the owner of a decrepit boat dock that collapses while people are standing on it might be liable under negligence. Assault and battery are an example of intentional interference. The owner of a poisonous snake that bit someone could be liable for injury under absolute liability, even if he or she did not intend to harm anyone. The maker of a defective product that harms the buyer might be held liable under strict liability.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Presence of other contract (s) covering the same conditions. When more than one policy covers the exposure, each policy will pay an equal share of the loss. ...

Process of forming a large group of homogeneous lives that in order to allow the law of large numbers to operate, thereby projecting a probable rate of mortality or morbidity whose ...

Feature in a life insurance policy allowing a policyowner to freely assign (give, sell) a policy to another or institution. For example, in order to secure a loan, a bank asks to be ...

Employee's full entitlement, with no waiting period, to benefits under a pension or retirement plan. In the case of a contributory plan, there is immediate vesting of the employee's own ...

Assurance by the agent that the recommended insurance plan for the client is suitable for that client's specific needs. This assurance is derived from a careful analysis by the agent of the ...

Average earned monthly income (AEMI) for the tax year in which the insured wage earner has income interrupted or terminated because of illness, sickness, or accident. This AEMI is important ...

Type of term life insurance policy that has a face amount that increases to a predetermined sum and then decreases to zero at the termination point of the policy, while at the same time ...

Insurance coverage for pitfalls associated with travel. The coverage can be classified as follows: Trip Cancellation the travelers) must cancel the trip because of unforeseen circumstances ...

Employee of the insurance company who has the authority to appoint brokers on behalf of the insurance company. This supervisor has the objective and responsibility to sell the insurance ...

Popular Insurance Questions