The Legal System Is Designed to Mitigate Risks and Is

question 11

True/False

The legal system is designed to mitigate risks and is not intended to create new risks.Therefore, it does not have the power of transferring the risk from your shoulders to mine.

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Definitions:

Group Decision Making

A process where members of a group collectively analyze problems and look for solutions, aiming to reach a consensus that reflects the input and perspective of the entire group.

Probabilities

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Reliable Historical Data

Trustworthy and dependable data from the past, used for research, analysis, or decision making, which has been accurately recorded and preserved.

Subjective Probabilities

Estimates of the likelihood of events based on personal judgment or experience, rather than on objective data or statistical analysis.