INTRODUCTION TO BUSINESS LAW

Introduction to Business Law



ABSTRACT

In this paper we shall study two separate cases and their details which are Corr v IBC Vehicles 2008 AC 884 and Transfield Shipping Inc. v Mercator Shipping Inc. (The Achilleas) 2009 1 AC 61. We will study the main legal principles relating to remoteness of damage which arise from these cases; and critically analyse the interrelationship of contract law and tort law in the area of remoteness of damage. We will study both the contract law and tort law in good detail to

Understand what the cases are all about.Introduction to Business Law

Introduction

Corr v IBC Vehicles 2008 AC 884 and Transfield Shipping Inc. v Mercator Shipping Inc. (The Achilleas) 2009 1 AC 61 are the two cases that we will discuss. In both the cases we will emphasize on main legal principles related to the remoteness of damage. We will anaylse the Law of Contract and Law of Tort in the area of remoteness and also discuss the interrelationship of both contract law and tort law.

Tort Law

Tort is a private or civil law offense, entailing compensation for the harm and damages recoverable in private law in favor of persons injured. A tort is a private or civil act that harms other people or their property. The harm may involve emotional distress, physical injury, invasion of privacy, or defamation. The injured party may sue the wrong doer to recover damages for loss or harm. A tort is not the result of a breach of contract which would be settled under contract law (Jennings, 2006, pp. 60). The tort law identifies a number of legal rules that attempt to organize sharing the cost of accidents (for the victim unwanted events because they generate injury). These accidents may not be from the point of view of the damage caused. In the given case, negligence has been committed by the company. Negligence is also a type of tort law.

Negligence Law

Negligence is a legal concept usually used by a court to obtain damages in the case of accidents and injuries or scars on the health and recently in the case of environmental damage. In the tort of negligence the plaintiff should verify that the defendant was obliged them a duty of care, broken that obligation and that damages were endured as a result of a break of that duty (Lunney & Oliphant, 2003).

Negligence is the ways that fall below the standards of actions recognized by law for the safety of others against unreasonable risk of harm. He or she has acted negligently if departed from the conduct expected of a convincingly prudent person acting under related conditions. It is the value or condition of being negligent, need of due diligence or care, act or an example of negligence or carelessness. In the tort of negligence the plaintiff should verify that the defendant was obliged them a duty of care, broken that obligation and that damages were endured as a result of a break of that ...