15:38
Isn’t uchicago like Top 4 tho
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Simple English definitions for legal terms
incurred risk
Read a random definition: APN
A quick definition of incurred risk:
Term: Incurred RiskDefinition: Incurred risk is when someone willingly takes on the possibility of getting hurt or losing something, and then they can't blame someone else if it happens. For example, if you decide to go skydiving, you know there's a risk of getting hurt, so you can't sue the skydiving company if you do get hurt. This is called incurred risk. It's like saying, "I know there's a chance something bad could happen, but I'm going to do it anyway and take responsibility for my own actions."
A more thorough explanation:
Definition: Incurred risk is a legal term that refers to the principle that one who takes on the risk of loss, injury, or damage cannot maintain an action against a party that causes the loss, injury, or damage. It is also known as assumption of risk.
For example, if someone decides to go skydiving, they are assuming the risk of injury or death that comes with the activity. If they are injured during the skydiving, they cannot sue the company that provided the service because they incurred the risk voluntarily.
Another example is when a person attends a baseball game and is hit by a foul ball. They cannot sue the stadium or the team because they incurred the risk of being hit by a ball by attending the game.
Overall, incurred risk means that if someone voluntarily takes on a known risk, they cannot hold another party responsible for any harm that may come from that risk.