|
Deep Pocket
Deep pocket is an American slang term; it usually means "extensive financial wealth or resources". It is typically used in reference to big companies or organizations (e.g. the American tobacco companies have "deep pockets"), although it can be used in reference to wealthy individuals (e.g., Bill Gates, Warren Buffett). In the context of a lawsuit, the deep pocket is often the target defendant, even when the true (moral) culpability is with another party because the deep pocket has money to pay a verdict. For example, a lawyer may comment that they sued the manufacturer of a product rather than the seller because the manufacturer has the deep pockets, meaning it has more money than the seller with which to compensate the victim and profit the attorney. Deep pocket as a slang term The term “deep pockets” (also given as “deep pocket” and “deep pocketed") is attested sparsely in the 1940s through the 1960s, but became popular with the litigation explosion of the 1970s. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American English
American English, sometimes called United States English or U.S. English, is the set of variety (linguistics), varieties of the English language native to the United States. English is the Languages of the United States, most widely spoken language in the United States and, since 2025, the official language of the United States. It is also an official language in 32 of the 50 U.S. states and the ''de facto'' common language used in government, education, and commerce in all 50 states, the District of Columbia, and in all territories except Puerto Rico. Since the late 20th century, American English has become the most influential form of English worldwide. Varieties of American English include many patterns of pronunciation, vocabulary, grammar, and particularly spelling that are unified nationwide but distinct from other forms of English around the world. Any North American English, American or Canadian accent perceived as lacking noticeably local, ethnic, or cultural markedness ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Liability
Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property. Product liability by country The overwhelming majority of countries have strongly preferred to address product liability through legislative means. Online access to this source requires a subscription to JSTOR or the Oxford Academic database operated by Oxford University Press. In most countries, this occurred either by enacting a separate product liability act, adding product liability rules to an existing civil code, or including strict liability within a comprehensive Consumer Protection Act. In the United States, product liability law was developed primarily through case law from state courts as w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law And Economics
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director, George Stigler, and Ronald Coase. The field uses economics concepts to explain the effects of laws, assess which legal rules are economically efficient, and predict which legal rules will be promulgated. There are two major branches of law and economics; one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance. History Origin The historical antecedents of law and economics can be traced back to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guido Calabresi
Guido Calabresi (born October 18, 1932) is an Italian-born American jurist who serves as a senior circuit judge of the United States Court of Appeals for the Second Circuit. He is a former Dean of Yale Law School, where he has been a professor since 1959. Calabresi is considered, along with Ronald Coase and Richard Posner, a founder of the field of law and economics. Early life and education Calabresi was born in 1932 in Milan, Italy. His father, Massimo Calabresi (1903–1988), was a cardiologist, and his mother, Bianca Maria Finzi-Contini Calabresi (1902–1982), was a scholar of European literature. Calabresi's parents were active in the resistance against Italian fascism and eventually fled Italy, immigrating to the United States in 1939. The family settled in New Haven, Connecticut, and became naturalized American citizens in 1948. Guido's older brother Paul Calabresi (1930–2003) was a prominent medical and pharmacological researcher of cancer and oncology. Calabresi's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Safe Harbor (law)
A safe harbor is a provision of a statute or a regulation that specifies that certain conduct will be deemed not to violate a given rule. It is usually found in connection with a more-vague, overall standard. By contrast, "''un''safe harbors" describe conduct that ''will'' be deemed to violate the rule. For example, in the context of a statute that requires drivers to "not drive recklessly", a clause specifying that "driving under 25 miles per hour will be conclusively deemed not to constitute reckless driving" is a "safe harbor". Likewise, a clause saying that "driving over 90 miles per hour will be conclusively deemed to constitute reckless driving" would be an "unsafe harbor". In this example, driving between 25 miles per hour and 90 miles per hour would fall outside of either a safe harbor or an unsafe harbor, and would thus be left to be judged according to the vague "reckless" standard. Theoretical justifications Safe harbors have been promoted by legal writers as redu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lady Justice
Lady Justice () is an allegorical personification of the moral force in judicial systems. Her attributes are scales, a sword and sometimes a blindfold. She often appears as a pair with Prudentia. Lady Justice originates from the personification of Justice in ancient Roman art known as ''Iustitia'' or ''Justitia'', who is equivalent to the Greek goddess Themis. The goddess Justitia The origin of Lady Justice was Justitia (or Iustitia), the goddess of Justice within Roman mythology. Justitia was introduced by emperor Augustus, and was thus not a very old deity in the Roman pantheon. Justice was one of the virtues celebrated by emperor Augustus in his , and a temple of Justitia was established in Rome by emperor Tiberius. Justitia became a symbol for the virtue of justice with which every emperor wished to associate his regime; emperor Vespasian minted coins with the image of the goddess seated on a throne called ''Iustitia Augusta'', and many emperors after him used the imag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judgment Proof
In the context of contract law, debt collection and civil litigation, the term judgment proof is commonly used to refer to defendants or potential defendants who are financially insolvent, or whose income and assets cannot be obtained in satisfaction of a judgment. Being "judgment proof" is not a defense to a lawsuit. If sued, the defendant cannot claim being "judgment proof" as an affirmative defense. The term "judgment proof" instead refers to the inability of the judgment holder to obtain satisfaction of the judgment. If a plaintiff were to secure a legal judgment against an insolvent defendant, the defendant's lack of funds would make the satisfaction of that judgment difficult, if not impossible, to secure. Exempt assets In some jurisdictions, some classes of income and assets are exempt from being accessed to pay a judgment. If a judgment debtor has income, it may be possible to get an order of garnishment to collect a judgment from that source of income. However, if th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protection Of Lawful Commerce In Arms Act
The Protection of Lawful Commerce in Arms Act (PLCAA) is a U.S law, passed in 2005, that protects firearms manufacturers and dealers from being held liable when crimes have been committed with their products. Both arms manufacturers and dealers can still be held liable for damages resulting from defective products, breach of contract, criminal misconduct, and other actions for which they are directly responsible. However, they may be held liable for negligent entrustment if it is found that they had reason to believe a firearm was intended for use in a crime. Background In the years before passage of the act, victims of firearms violence in the United States had successfully sued manufacturers and dealers for negligence on the grounds that they should have foreseen that their products would be diverted to criminal use.Munoz, SWhy Isn't The Media Discussing The Unprecedented Law Giving Gun Makers And Dealers Immunity?Media Matters, December 19, 2012. In 1998, Chicago Mayor Ri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negligence
Negligence ( Lat. ''negligentia'') is a failure to exercise appropriate care expected to be exercised in similar circumstances. Within the scope of tort law, negligence pertains to harm caused by the violation of a duty of care through a negligent act or failure to act. The concept of negligence is linked to the obligation of individuals to exercise reasonable care in their actions and to consider foreseeable harm that their conduct might cause to other people or property. The elements of a negligence claim include the duty to act or refrain from action, breach of that duty, actual and proximate cause of harm, and damages. Someone who suffers loss caused by another's negligence may be able to sue for damages to compensate for their harm. Such loss may include physical injury, harm to property, psychiatric illness, or economic loss. Elements of negligence claims To successfully pursue a claim of negligence through a lawsuit, a plaintiff must establish the " elements" of neg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frivolous Litigation
Frivolous litigation is the use of legal processes with apparent disregard for the merit of one's own arguments. It includes presenting an argument with reason to know that it would certainly fail, or acting without a basic level of diligence in researching the relevant law and facts. That an argument was lost does not imply the argument was frivolous; a party may present an argument with a low chance of success, so long as it proceeds from applicable law. Frivolous litigation may be based on absurd legal theories, may involve a superabundance or repetition of motions or additional suits, may be uncivil or harassing to the court, or may claim extreme remedies. A claim or defense may be frivolous because it had no underlying justification in fact, or because it was not presented with an argument for a reasonable extension or reinterpretation of the law. A claim may be deemed frivolous because existing laws unequivocally prohibit such a claim, such as a Good Samaritan law. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Contractor
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, and disability insurance. Employment is typically governed by employment laws, organization or legal contracts. Employees and employers An employee contributes labour and expertise to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. The phrase "supply chain" may have been first published in a 1905 article in ''The Independent (New York City), The Independent'' which briefly mentions the difficulty of "keeping a supply chain with India unbroken" during the British expedition to Tibet. Overview A typical supply chain can be divided into two stages namely, produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
