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

Coverage for golf clubs and golf equipment on an all risks basis subject to exclusions of wear and tear, war, and nuclear disaster. Location of coverage is a clubhouse locker or any other ...

Insurance company's total investments in financial securities. ...

Group of insurers or re insurers involved in joint underwriting. Members typically take predetermined shares of premiums, losses, expenses, and profits. Syndicates, more common in ...

Plan in which funds are currently allocated to purchase retirement benefits. An employee is thus assured of receiving retirement payments, even if the employer is no longer in business at ...

Coverage that goes into effect when an individual's claim reaches a specific threshold selected by the employer who has self-insurance. After this threshold is reached, the policy pays ...

Academic publication of the American risk and insurance association in which articles deal with aspects of risk, insurance, and allied fields of study. ...

Costs incurred by an insurance company other than agent commissions and taxes; that is, mainly the administrative expense of running a company. ...

Terms specifying obligations of an insured to keep a policy in force. For example, an insured must pay the premiums due; in life insurance, if death occurs, the beneficiary or the insured's ...

Individuals or organizations covered by property and liability insurance other than the named insured. For example, under the personal automobile policy (pap), other insureds under Coverage ...

Popular Insurance Questions