There is no doubt that it can be very costly to be held legally liable for damage caused to others. Fees can add up not only because of the amount you have to pay the person, but also because of the legal fees to argue your case. Insurance can help protect you from intentional and unintentional torts and cover attorneys` fees, damages, and even punitive damages. Example: Mr. Brown and his ex-wife, Ms. Black, have a court order detailing custody arrangements for their children. The court order states that children have contact with their father alternately on weekends and during half of the school holidays as well as Father`s Day. Children must have contact with their mother on Mother`s Day. The legal liability of children may be considered jointly and severally liable, since the court order does not provide otherwise. This question probably sounds silly. Obviously, a contract is a legal document signed by both parties and agrees to exchange services for money, right? Not necessarily. In fact, the definition of a contract is much broader.

Contracts can be oral or written, and both are legally enforceable. Although it is easier to prove a written contract, from a legal point of view, an oral contract is just as good as a written contract. Sometimes even better, because it is clear that all parties knew all the terms of the agreement. The next element is causality. It is not enough to violate your duty, you must be the cause of the harm caused to the person. If you have a duty and you violate that duty and the person ends up being hurt, but not because of you or your breach, you are not responsible. This seems explicit, but most cases are fought on this element. Let`s say you own a store and a jar falls off a shelf and hits a customer in the head. You have a duty to your customers to ensure the security of your business, which has clearly been violated; And the customer was clearly hurt by the pot that hit him. But what dropped the pot? The customer will say you put it in a dangerous place, but you`ll say it was an external factor, like the customer climbing the shelf to drop something, or maybe another customer dropping the pot off the shelf. While there may be other ways, such as: liability for locals that would help the customer win this type of case, his case of negligence would fail if you were not the cause of the damage. Legal liability means that you pay a financial amount to compensate for any wrongdoing on your part, whether intentional or accidental.

But when does this change from a possibility to a legally binding payment obligation? It depends on the case. Whether you settle the case or take it to court, you are legally liable once the judge approves an amount. In criminal law, it is called « guilty, » but in the civilian world, it is simply liability. Question: What is the ethical responsibility of the company? Whenever you breach a contract, you are legally liable for damages. This can be calculated in several ways, depending on the case and the state in which you live. Let`s say you say to your neighbour, « I`ll pay you $50 if you mow my lawn. » The neighbor mows your lawn, and you never pay for it. You have broken a contract and your neighbour is entitled to compensation for his work. As in the cases described above, your damages may be punitive or punitive, depending on what the court awards. A business is an important part of society and it should do its business and make money in a way that meets society`s expectations. Corporate social responsibility refers to the obligation to make these decisions and carry out desirable actions in terms of the company`s goals and values. It is the idea that businesses should balance for-profit activities with activities for the benefit of society; It is about developing companies with a positive relationship with the society in which they operate.

But what exactly is legal liability? This is when you are legally responsible for someone else`s financial loss. This liability may arise from: An intentional offense is an unlawful act committed intentionally against another person, such as bodily harm, bodily harm, defamation, defamation, embezzlement, kidnapping, fraud, etc. The civil action for intentional misdemeanour is brought by an individual — not by the state, as would be the case in criminal cases — and the penalty is monetary compensation rather than imprisonment. Although the state can bring charges against you in criminal court and a conviction would require jail time or other forms of punishment, the person can also sue you in court. It is important to note that sentencing in one court does not overturn a case in the other form of court. This means that a civil suit does not prevent the state from laying criminal charges. The indemnity is a financial amount that you owe to the person you wronged in order to supplement it. These payments can take many forms. For example, if you hit someone in the face, it`s a battery. If this blow breaks his nose and requires surgery, you will be asked to pay the hospital bills. This is compensatory because it prevents the injured person from suffering a financial loss as a result of your actions.

It is the philanthropic responsibility of the company to help various groups in society. It should also promote free education by opening education and training institutions or helping people affected by natural disasters such as floods and earthquakes. It is management`s responsibility to secure capital investment by avoiding speculative activities and undertaking only sound business ventures that generate a good return on investment. The economy is one of the most important pillars of society. And that`s why he should support and improve society whenever he can. When a company makes significant profits, it is its responsibility to be philanthropic to society by donating funds or its goods and services. You must have heard of Ultratech Cement. It is the largest cement plant in the country. But did you know that it provides social work and development in 407 villages in the rural sector? It focuses on education, health and infrastructure in these villages.

Just like them, different companies in India adopt different types of social responsibility.