What Is the Difference Between Contributory Negligence and Comparative Negligence

question 80

Essay

What is the difference between contributory negligence and comparative negligence? Why have so many states adopted comparative negligence?

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life.

Machinery and Equipment

Physical assets used in a business operation to produce goods or services, not including buildings or property.

Assessed Tax Valuation

The valuation placed on property by a public tax assessor for the purposes of taxation.

Financial Reporting

The process of producing statements that disclose an organization's financial status to management, investors, and the government.