Study 1: Introduction to Liability Insurance Flashcards
(21 cards)
What is the purpose of liability insurance?
To protect the insured if they are found legally responsible for causing harm to someone or their property or both.
What is liability?
The responsibility assessed against a person or entity for injury or damage to a 3rd party as a result of applying the law.
What is a tort?
A legal wrong arising from a duty fixed by law. The duty is owed to people.
What is negligence?
The failure to use the degree of expected care from a reasonable person.
What is nuisance?
Unwarranted, unlawlful use of own property that produces and annoyance, inconvenience, discomfort or hurt to others or their property.
What is private nuisance?
Interference with a persons use and enjoyment of their living area
What is public nuisance?
Interference involving the rights of many people.
What is contractual liability?
Liability assumed through a contract.
What is a hold harmless agreement?
Contractual agreement where one party assumes liability and risk of another and indemnifies the other for having to bear the loss.
What is statute law?
Law set down in gov’t act and passed down in legislature.
What are the two systems of civil law in Canada?
Common law system and Civil Code of Quebec
What articles deal with governing insurance in the CCQ
2398 and 2414
What articles apply to property and liability insurance?
2463, 2479
What articles deal specifically with liability?
2948 and 2504
What is precedent setting case law?
This forms a body of general principles that can be compared to the case in dispute. If precedent doesnt exist, court can include in its judgement, a set of rules, with criteria in logical argument in support of its decision.
What is Donaghe vs Stevenson?
Case hwere woman found snail in her drink, She got the drink from a friend.
What is McKay vs Starbucks
Case dealing with the sidewalk in front of Starbucks.
What case is Rankin vs JJ?
case where laibkity arises from injury due to theft of a motor vehicle.
What is Kamloops vs Neilsen
This case deals with the foundation not being adequate for a new home.
What is Grant vs Tostar
Case dealing with the reporting of a prposed golf course development area that is and how locals responded to the course.
What is D&O insurance?
protection for officers and directors of a corp against damages resulting from negligent of wrongfull acts in the course of their duties.
