THE OBLIGATIONS IMPOSED BY THE CONTRACT
Besides the possibility of legal liability arising from intentional tort, absolute liability, or negligence, a corporation or an individual may have a duty that was required by the contract. This obligation may be assumed obligations according to the contract or obligation arising from a guarantee is not allowed. Breach of warranty of it arising from product liability or professional obligations.
The responsibilities to be assumed according to the contract
Someone or something the company can make an agreement to assume all or part of the obligations of another person. When one student came up to the contract – rent a Pavilion, he might agree to assume the liability imposed by law upon owners with custom lists him in the contract. Inclusion of articles in a lease contract is a procedure which is common everywhere. A company's business may shoulder the obligations of others not only in respect to the lease of the room, but also in the relationship agreements freight trains, contact the provision of goods or services to another party, or the permits obtained from government officials.
Product Responsibility.
Presumably we now have reached an age of consumerism. For the first time in history, the birth of a consumer agency that can force the manufacturers and the retailers to create products that are of high quality and safe. A person who is aggrieved because wearing a defective product can sue to court, either by reason of the negligence of employers, or for violating the contract. Demands due to breach of contract arising from a breach of the implied warranties. There are two guarantees implied: the guarantee of merchantability and warranties of fitting for a specific purpose, both of these guarantees is to protect the buyer and this warranty remains valid even though the seller is not aware of any such defect. Uniform Commercial Code stipulates requirements for an item can be traded among others: "passed without objection to be traded according to the contract". "fit for the ordinary purposes for which goods of that use", "Encasement and packaging and label marking in accordance with required by agreement", "and in accordance with the promise or affirmation that is imprinted on the wrapper or label if there is".
The warranty is valid if the seller matches deserve be considered knowing a particular purpose of the products purchased it and that the buyer relies on the seller's knowledge and experience in providing appropriate goods for him.
Professional Liability
This obligation involves doctors, lawyers, accountants, Estheticians and other professional people and similar to the above product responsibility. The basis for these claims is a breach of the implied warranties to provide services which should be given by him. As well as on product liability, the party aggrieved may also sue to court.
Overview
Risk manager, or a plan of its own insurance program shall identify the possibilities of losses. This may concern the determination of the losses caused by the death or disability of his principal officials. For the head of the family, this concerns the valuation of funeral expenses and loss of income due to the death or disability of his father the family breadwinner, valuation of medical expenses and retirement income needs forecast.
In
the property insurance, risk managers should pay attention to the loss
of wealth itself, losses in the wearing of the treasure, and the
additional costs incurred after that loss.
Good risk manager in a company or a person who is planning a family welfare must be carefully pay attention to the possibilities of liability. There are two basic incidence of damage to other people – other people: the obligations required by the contract, and tort. Tort can be define as a mistake (not a breach of contract) to be submitted to the Court. Negligence is an action that is not worthy or not of wisdom from someone. If, because of failure to act as a wise person, was the loss of a member of society, then the perpetrators of offences considered guilty of negligence. Damage claims can be filed to the Court and if found then the Court can decide the granting of indemnity to the aggrieved party.
