Assumption of Risk


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Assumption of Risk

1. In law, an agreement by which one party takes on the risk of another party, often for some compensation.

2. In torts, a defense in a lawsuit in which the defendant argues that the plaintiff took a risky action after having been informed of risks in such a way that a reasonable person would understand such risks. This limits the defendant's liability in the lawsuit. However, some states limit the use of the assumption of risk defense.
References in periodicals archive ?
the assumption of risk defense is generally not available in boat racing
In regard to an assumption of risk defense, which of the following is true?
But in other situations, an assumption of risk defense may be used successfully.
Based upon the evidence the trial court properly instructed the jury on the doctrine of implied assumption of risk.
This absolutely challenges the fundamental assumption of risk assessment that once you start increasing dose you always see an increase in response," says vom Saal.
This market refers to alternative risk-financing products, which--unlike traditional insurance policies--involve some assumption of risk by the insured.
Managed competition's emphasis on provider incentives to manage health care utilization of populations draws attention to an unresolved issue in managed care regulation concerning appropriate limits to the assumption of risk by entities other than licensed insurers.
This book provides a complete summary of the development of liability transfer contracts offered by remediation firms, as well as how new, innovative contracts can provide an attractive alternative to the assumption of risk that is normally associated with ownership of contaminated properties.
Tomljanovic, as a member of ACA's senior policy committee, participated in ACA's strategic development and the establishment of policies and procedures governing our assumption of risk.
In his opinion, Judge George wrote that there "are a number of factors identified by the defendants demonstrating that individual issues, such as causation, damages, statute of limitations, comparative fault, and assumption of risk not only exist as to each member of the class, but will vary extensively as to each member.
com Global Financing Network allows financing partners to select the transactions that fit their risk-return profile for consumer, small business and commercial portfolios, rather than being forced into an arbitrary assumption of risk.