Management 260 Week 3 Notes
Management 260 Week 3 Notes Management 260
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This 3 page Class Notes was uploaded by Eunji Cho on Friday February 5, 2016. The Class Notes belongs to Management 260 at University of Massachusetts taught by Michael Malkovich in Spring 2016. Since its upload, it has received 14 views. For similar materials see Introduction to Law in Business, management at University of Massachusetts.
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Date Created: 02/05/16
Management 260 Professor Malkovich Week 3 Notes: Feb 1-5 By Eunji Cho February 2, 2016 Filing a Lawsuit When there is a case • Attorney takes the case based on contingency agreement • Identifies a defendant (deep pockets) • Identify costs of the case (expenses) Complaint • Address defendant o Chad, Steve, Mary, Theta Chi, Campus Liquors • Theories of faults • Expenses and damages o Broken jaw o Facial laceration (scarring) o 2 days hospitalization o 2 weeks home confinement o Lost semester (in-state) o $20,000 medical expenses o Emotional distress, pain and suffering When complaint is registered, the court gives out summons • If the defendant doesn’t answer, the plaintiff gets a default • Court is generous for removing default • When default happens, there is a hearing February 4, 2016 Joint & Several liability • When there are multiple defendants • Joint tort feasors • If the defendant is found liable, the plaintiff can get the money from anyone of the defendants that have the money (is not always 1/n) • The defendant that ends up paying can file a suit for the other defendants for contribution (technically, but this doesn’t matter to the original plaintiff) • Typically, when some defendants of the joint liability have insurance, they will work together to make a settlement Search through databases of settlements and verdicts • This data can be used to negotiate settlements Plaintiff § $20,000 medical expenses è can be reimbursed to medical insurance if the insurance company claim lean, this amount can be negotiated when the plaintiff is talking settlement. § $20,000 in-state tuition § $20,000 lost semester (opportunity cost) § $15,000 therapy, scarring Room to compromise when negotiating.
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