Recognizing and Minimizing Tort and Regulatory Risk
Tommie J. Maxie
University of Phoenix
Dr. Cornelius Perry
As defined by our text, Torts are civil wrongs by a corporation or individual that often requires a remedy from an outside source, whether court or an outside mediator (Jennings, 2002). From completing the “Business Regulation” simulation, one can certainly deduce that the issue of tort liability for businesses is a very complex and difficult to resolve issue. Based on the results from the simulation using Alumina as an example, every company should have a complex response plan set in order to properly and effectively respond to tort liabilities that may arise at any time. Based on my choice results, companies like Alumina, which face complex tort liabilities such as those associated with the Environmental Protection Agency (EPA), and possible personal injury tor should have a complex response plan ready in case such liabilities issues arise. An effective response and a quick response timeline are extremely important. In the month of April for the simulation, I chose to conduct an independent site study which resulted in Alumina finding out that the PAH levels were in fact lower than prescribed and thus, Bates’ accusation was blunted for the time being (University of Phoenix, 2002) However, that did not dissolve the problem, Bates persisted. In May, I chose the option for the company to authorize a partial release of the environmental audit report, which resulted in the preservation of Alumna’s competitive position in aluminum trade (University of Phoenix, 2002). For the month of June, I chose to seek out the intervention of the AAA that was a much more cost and time effective means of resolving this tort liability (University of Phoenix, 2002).
Today more than ever our society is diligently working toward becoming much more environmentally friendly. Over the years we have seen many cases go to court with parties...