The purpose of this chapter is to compare negligence rules and strict liability rules and to examine the allocative effects resulting from the application of different liability regimes. It first discusses unilateral accidents, while the more complicated bilateral cases follow afterwards. Each section starts with a discussion of the rule of no liability before moving on to various forms of negl...

A long-standing debate questions whether the World Trade Organization’s (“WTO”) formal dispute settlement procedures level the playing field for lower income countries in international trade disputes, or instead, merely give opportunistic and sophisticated countries complex * Trade Counsel, Committee on Ways and Means, U.S. House of Representatives; J.D., Harvard Law School, 2007; M.P.P., Georg...

This study investigates the audit firm’s decision to protect its partners’ personal assets by becoming a limited liability partnership (LLP). We find that the likelihood of an audit firm switching from unlimited to limited liability is increasing in its size and exposure to litigation risk. We find no evidence that audit firms supply lower audit quality, lose market share, or charge lower audit...

Farm & Foodcare Ontario [1] International Credential Assessment of Canada Inc [2]. Kahntact Marketing [3] Miller Thomson, LLP [4] Ontario Federation of Agriculture [5] Ontario Institute of Agrologists [6] Provision Coalition [7] RKD Web Studios [8] Synthesis AgriFood Network [9] Veterinary Skills Training & Enhancement Program [10] Wellmark International Workplace Safety & Prevention Services [...

In this paper we examine the factors that determine how firms manage large, firmspecific risks, in this case, product liability. The risk of being sued for defective products or damage from defective products poses a small probability of a great loss to the firm. Product liability exposure arises from the firm’s choice of products and markets; choices that are fundamental to the firm’s business...

protection of a sound environment is one of the most contravertioal issues of the legal and political world, and different letters are provided in this regard. but in respect of how to implement the aim of promoting and protecting the environment, the governments have utilized different legal instruments; the last of which is the concept of liability for environmental damages. level in which di...

The abundance of flawed software has been identified as the main cause of the poor security of computer networks since major viruses and worms have been exploiting the vulnerabilities of such software. As an incentive mechanism for software security quality improvement, software liability has been intensely discussed among computer scientists, jurists, and policy makers for a long time. In this...

although transactions are complicated and of specific variety nowadays, concern of both parties of transactions concerning probability of deservingness of each considerations is so important that all legal schools have thought about some solutions for removing that concern and creating peace of mind for both parties. islamic legal law has not ignored that important issue too, and has offered li...

This study contains a comprehensive scientific analysis of modern problems of risk management in the sphere of state economic security provision using professional liability insurance. The elements of the mechanism for providing economic security are defined, namely: subjects, objects, and instruments of influence. It is stipulated that insurance is the means to provide state economic security....