Ben Is Concerned That If He Injures Someone or Damages

question 17

Multiple Choice

Ben is concerned that if he injures someone or damages someone's property he could be held legally responsible and required to pay damages.This type of risk is called a

• A)speculative risk.
• B)liability risk.
• C)nondiversifiable risk.
• D)property risk.

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Definitions:

Appeals Process

A legal procedure allowing for the review and potential reversal of a lower court's decision by a higher court.

Natural Justice

A legal philosophy aimed at ensuring fairness in judicial, administrative, and decision-making processes, including the right to a fair hearing.

Procedural Rules

Standards and regulations guiding the processes and proceedings of courts or administrative bodies.

Retroactive

Pertaining to a law, amendment, or decision that takes effect from a date in the past, affecting actions or agreements that occurred before it was made.