Risk

assumption of risk

assumption of risk :a doctrine that a person may in advance relieve another person of the obligation to act towards him or her with due care and may accept the chance of being injured ;also : an affirmative defense that the plaintiff cannot receive compensation for injuries from the defendant because the plaintiff freely and knowingly assumed the risk of injury and relieved the defendant of the obligation to act with reasonable care compare contributory negligence at negligence, volenti non fit injuria NOTE: Assumption of risk may be express or may be implied from the plaintiff's words and actions. Assumption of risk has been abolished in certain types of cases, such as workers' compensation cases. ...

speculative risk

speculative risk : a risk that may result in either a loss or a gain compare pure risk ...

Assumption of the risk

Assumption of the risk, means the act or an instance of a prospective plaintiff's taking on the risk of loss, injury, or damage e.g. the skydiver's assumption of the risk, Black Law Dictionary 7th Edn., p. 121....

pure risk

pure risk : a risk that can only result in loss compare speculative risk ...

assigned risk

assigned risk : a poor risk (as an accident-prone driver) that insurance companies would normally reject but are forced to insure by state law ...

peculiar risk doctrine

peculiar risk doctrine : a doctrine that renders an employer (as a general contractor) liable for injury caused by an independent contractor if the employer failed to take reasonable precautions against a risk particular to the employee's work that the employer should have recognized ...

preferred risk

preferred risk : an insured that an insurer deems has a lower than average chance of loss and that usually may pay a lower premium [because of the past accidents, he was not a preferred risk] ...

risk 1 a : possibility of loss or injury b : liability for loss or injury if it occurs [the of loss passes to the buyer when the goods are duly delivered to the carrier "Uniform Commercial Code"] [the of personal injury and property damage should be placed with the manufacturer rather than the consumer "Case & Comment"] 2 a : the chance of loss to the subject matter of an insurance contract : uncertainty with regard to loss ;also : the degree of probability of such loss compare peril b : a person or thing that is a specified hazard to an insurer [a poor for insurance] c : an insurance hazard from a specified cause or source [a war ] risk·less adj ...

risk-utility test

risk-utility test : a test used in product liability cases to determine whether a manufacturer is liable for injury to a consumer because the risk of danger created by the product's design outweighs the benefits of the design ...

Attachment of risk

Attachment of risk, means the point when the risk of loss of purchased goods passes from the seller to the buyer, UCC 2-509....

Risk - Law Dictionary Search Results