The world of business is one that is filled with many potential hazards, making proper navigation a key component to success. In order to stay afloat, one must be aware of as many hazards as possible and know how to recognize them in order to avoid what can be circumvented.
Likewise, a person should be familiar with the terms that they may run across. One such term is tort. In short, a tort is a civil wrong in which the responsible party, called the tortfeasor, has caused undue damage, stress or loss to another party. This can be intentional or unintentional. It can also involve more than two parties, as is the case with tortious interference. Cornell University describes this as a situation in which the tortfeasor interferes with a contractual or business relationship. It can also include the tortfeasor involving a third party to scorn the plaintiff’s relationships.
Cornell also explains that deceptive trade practice can be punished under the set of laws that apply to torts. Torts are sectioned off into different categories such as trespass, infliction of emotional distress, negligence, assault and battery and products liability. Torts can also be divided into negligent, intentional and strict liability. Any tort relating to a business can fall under all three categories. However, strict liability torts only apply to any company making or selling defective products.
In essence, torts can act as blanket protection for both a business and its customers. It ensures that tortfeasors will be held accountable if something negative happens due to their intentional actions or accidental negligence.