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Insurance Bad Faith
Insurance bad faith is a tort unique to the law of the United States (but with parallels elsewhere, particularly Canada) that an insurance company commits by violating the " implied covenant of good faith and fair dealing" which automatically exists by operation of law in every insurance contract. If an insurance company violates the implied covenant, the insured person (or "policyholder") may sue the company on a tort claim in addition to a standard breach of contract claim. The contract-tort distinction is significant because as a matter of public policy, punitive or exemplary damages are unavailable for contract claims, but are available for tort claims. In addition, consequential damages for breach of contract are traditionally subject to certain constraints not applicable to compensatory damages in tort actions (see '' Hadley v. Baxendale''). The result is that a plaintiff in an insurance bad faith case may be able to recover an amount ''larger'' than the original face v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tort
A tort is a civil wrong, other than breach of contract, that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act. Tort law can be contrasted with criminal law, which deals with criminal wrongs that are punishable by the state. While criminal law aims to punish individuals who commit crimes, tort law aims to compensate individuals who suffer harm as a result of the actions of others. Some wrongful acts, such as assault and battery, can result in both a civil lawsuit and a criminal prosecution in countries where the civil and criminal legal systems are separate. Tort law may also be contrasted with contract law, which provides civil remedies after breach of a duty that arises from a contract. Obligations in both tort and criminal law are more fundamental and are imposed regardless of whether the parties have a contract. While tort law in civil law jurisdictions largely derives from Roman law, common law jurisdictio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of thos ... between an insurance policy holder and an insurance , insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Farm V
State most commonly refers to: * State (polity), a centralized political organization that regulates law and society within a territory **Sovereign state, a sovereign polity in international law, commonly referred to as a country **Nation state, a state where the majority identify with a single nation (with shared culture or ethnic group) ** Constituent state, a political subdivision of a state ** Federated state, constituent states part of a federation *** U.S. state * State of nature, a concept within philosophy that describes the way humans acted before forming societies or civilizations State may also refer to: Arts, entertainment, and media Literature * ''State Magazine'', a monthly magazine published by the U.S. Department of State * ''The State'' (newspaper), a daily newspaper in Columbia, South Carolina, United States * '' Our State'', a monthly magazine published in North Carolina and formerly called ''The State'' * The State (Larry Niven), a fictional future governmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Punitive Damages
Punitive damages, or exemplary damages, are damages assessed in order to punish the defendant for outrageous conduct and/or to reform or deter the defendant and others from engaging in conduct similar to that which formed the basis of the lawsuit. Although the purpose of punitive damages is not to compensate the plaintiff, the plaintiff will receive all or some of the punitive damages in award. Punitive damages are often awarded if compensatory damages are deemed to be an inadequate remedy by themselves. The court may impose them to prevent undercompensation of plaintiffs and to allow redress for undetectable torts and taking some strain away from the criminal justice system. Punitive damages are most important for violations of the law that are hard to detect. However, punitive damages awarded under court systems that recognize them may be difficult to enforce in jurisdictions that do not recognize them. For example, punitive damages awarded to one party in a US case would be di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Show Trial
A show trial is a public trial in which the guilt (law), guilt or innocence of the defendant has already been determined. The purpose of holding a show trial is to present both accusation and verdict to the public, serving as an example and a deterrence (penology), warning to other would-be dissidents or transgressors. Show trials tend to be retributive justice, retributive rather than correctional justice, corrective, and they are also conducted for propaganda, propagandistic purposes. When aimed at individuals on the basis of protected group, protected classes or characteristics, show trials are examples of political repression, political persecution. The term was first recorded in 1928. A similar concept is the "kangaroo court". China After the Tiananmen Square protests of 1989, show trials were given to "rioters and counter-revolutionaries" involved in the protests and the subsequent military massacre. Chinese 2010 Nobel Peace Prize, Nobel Peace Prize laureate Liu Xiaob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Fee
A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice. In the law, a contingent fee is defined as a fee charged for a lawyer's services that is payable only if a lawsuit is successful or results in a favorable settlement, usually in the form of a percentage of the amount recovered on behalf of the client. Contingent fees may make it easier for people of limited means to pursue their civil rights since otherwise, to sue someone for a tort, one must first be wealthy enough to pursue such litigation in the first place. Due to the risk of loss, attorneys will not take cases on a contingency basis unless they believe that the case has merit, although accepting cases on a contingency is not without risk. Contingent legal fees Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Rule (attorney's Fees)
The American rule (capitalized as American Rule in some U.S. states) is the default legal rule in the United States controlling assessment of attorneys' fees arising out of litigation. It provides that each party is responsible for paying its own attorney's fees,See unless specific authority granted by statute or contract allows the assessment of those fees against the other party. In other parts of the world, the English rule is used, under which the losing party generally pays the prevailing party's attorneys' fees. Exceptions The American rule is merely a default rule, not the blanket rule in the United States. (At p. 1.) Many statutes at both the federal and state levels allow the winner to recover reasonable attorney's fees, and there are two major exceptions in federal case law as well. (At p. 2.) Under Rule 54(d) of the Federal Rules of Civil Procedure, federal statutes may supersede the default rule of not awarding attorney fees. The Magnuson–Moss Warranty Act is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Litigation
A lawsuit is a proceeding by one or more parties (the plaintiff or claimant) against one or more parties (the defendant) in a civil court of law. The archaic term "suit in law" is found in only a small number of laws still in effect today. The term "lawsuit" is used with respect to a civil action brought by a plaintiff (a party who claims to have incurred loss as a result of a defendant's actions) who requests a legal remedy or equitable remedy from a court. The defendant is required to respond to the plaintiff's complaint or else risk default judgment. If the plaintiff is successful, judgment is entered in favor of the plaintiff, and the court may impose the legal or equitable remedies available against the defendant (respondent). A variety of court orders may be issued in connection with or as part of the judgment to enforce a right, award damages or restitution, or impose a temporary or permanent injunction to prevent an act or compel an act. A declaratory judgment m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judgment (law)
In law, a judgment is a Decision-making, decision of a court regarding the rights and liabilities of parties in a legal action or proceeding. Judgments also generally provide the court's explanation of why it has chosen to make a particular court order.''Black’s Law Dictionary'' 970 (10th ed. 2014). Speakers of British English tend to use the term at the appellate level as synonymous with judicial opinion. American English speakers prefer to maintain a clear distinction between the ''opinion'' of an appellate court (setting forth reasons for the disposition of an appeal) and the ''judgment'' of an appellate court (the pronouncement of the disposition itself). In Canadian English, the phrase "reasons for judgment" is often used interchangeably with "judgment," although the former refers to the court's justification of its judgment while the latter refers to the final court order regarding the rights and liabilities of the parties. Spelling Judgment is considered a "free var ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indemnification
In contract law, an indemnity is a contractual obligation of one party (the ''indemnitor'') to compensate the loss incurred by another party (the ''indemnitee'') due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party (the ''guarantor'') to another party to perform the promise of a relevant other party if that other party defaults. Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident. In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanley Mosk
Morey Stanley Mosk (September 4, 1912 – June 19, 2001) was an American jurist, politician, and attorney. He served as Associate Justice of the California Supreme Court for 37 years (1964–2001), the longest tenure in that court's history. Before sitting on the Supreme Court, he served as Attorney General of California and as a trial court judge. Early life and career Mosk was born in San Antonio, Texas. His family moved to Rockford, Illinois when he was three years old. His parents Paul and Minna (née Perl) Mosk were Reform Judaism, Reform Jews (of Hungarian Jews, Hungarian and German Jews, German origin, respectively) who did not believe in strict religious observances. Since Rockford sits next to the Wisconsin border, Mosk's parents followed Wisconsin politics and were strong supporters of Progressive Wisconsin Senator Robert M. La Follette. Mosk's life was strongly affected by the Great Depression in the United States, Great Depression. Mosk graduated from the Univ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transamerica Corporation
Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services. The company is located in Baltimore, Maryland with it's subsidiary Transamerica Life Company headquartered in Cedar Rapids, Iowa; It has back offices Denver, Colorado; Harrison, New York; Toronto, Ontario; Philadelphia, Pennsylvania; and Knoxville, Tennessee. Additional affiliated offices are located throughout the United States. In 1999, it became an independent subsidiary of multinational company Aegon. Contributions from the Transamerica Life Insurance Company and its affiliates fund the Transamerica Institute, a nonprofit, private foundation. The Transamerica Center for Retirement Studies is an operating division of Transamerica Institute. History In October 1904, A.P. Giannini founded the Bank of Italy in San Francisco. In October ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
