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Liability in Sport and Rec Quiz 2

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Liability in Sport and Rec Quiz 2 Risk management - ✔✔Steps taken by organizations to limit the legal uncertainties within their activities and services without changing the fundamental nature o... f those activities and services What is the D.I.M. Process of Risk Management ? - ✔✔1. Developing the risk management plan 2. Implementing the plan 3. Managing the plan The three stages of developing a risk management plan - ✔✔1. Identifying the risks 2. Classifying those risks 3. Selecting methods of treatment for each of the identified risks Classifying risks - ✔✔Determine how often the risk may occur (frequency) and the degree of the potential loss from the risk (severity) *Often times the risk matrix is used in the industry Treatment of the risks? - ✔✔1. Avoidance of the activity 2. Transfer the risk to another party 3. Retain the risk (self-insurance) 4. Reduce the risk How to transfer the risk of an activity? - ✔✔1. Insurance policies 2. Contract transfer through indemnification clauses and waivers 3. Use of independent contractors Facility inspections and risk management - ✔✔*A comprehensive facility inspection should be done as part of risk management plan development where as many potential risks or hazards as possible are identified Standards of practice - ✔✔Published by professional organizations - also referred to as guidelines or recommendations. May be used as evidence during a negligence lawsuit to help determine the legal duty (standard of care) the defendant owed the plaintiff Elements required to form a legally binding contract? - ✔✔1. Offer 2. Acceptance 3. Consideration Offer - ✔✔A communication from offeror to offeree that creates in the offeree the power to form a contract with an appropriate acceptance 1. Demonstrates a willingness to enter into an agreement 2. Includes definite terms 3. Puts the other party in position to accept /create the contract Bilateral contract vs. unilateral contract - ✔✔Bilateral = exchange of promises form the contract Unilateral = offer that can only be accepted by offeree's performance (ex. The winner of today's 5k will receive $100 cash prize) Acceptance - ✔✔The offeror creates the power of acceptance and may dictate the manner and medium of acceptance and other terms 1. Manner of acceptance 2 [Show More]

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