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To: Jeffrey S. Mitchell who wrote (3912)10/20/2013 2:18:57 PM
From: SI Ron (Crazy Music Man)  Read Replies (1) | Respond to of 4890
 
I get a kick out of the class action lawsuits. People get ripped off for thousands of dollars, they band together and do a class action lawsuit. After years fighting, they end up with just pennies on the dollar, and the lawyers make a pile of money.



To: Jeffrey S. Mitchell who wrote (3912)10/20/2013 2:29:22 PM
From: Bear Down  Read Replies (1) | Respond to of 4890
 
Jeff, it has nothing to do with who's fault it is that one gets hurt. it is simply premise liability. you own the place, you are liable for what happens there. Unless laws change making you not liable for what happens on your property, that's the way it will be. Can you imagine how many places wouldn't carry insurance if they thought they could get a way with nothing more than a few warning signs or a release?

To use your example of the baseball rule, who would be at fault in your opinion if someone got hit in the head with a foul ball because he was busy handing the hot dog guy money while the ball was hit and he didn't even see it coming? Believe it or not, that is a real example and although no one was sued over the bump on his head and the embarrassing black eye, that is how i got my first foul ball at a phillies game. it was my cousin that got hit and dropped the hot dog. At least the vendor was cool enough to give him another one for free. personally i don't find it to be anyone's fault, that's why they call it an accident, but if serious injury or death arose from it, you can bet the stadium or team would have some liability and be more than willing to pay a reasonable claim instead of testing the baseball rule. That's what insurance is for.

If I have an 8 foot deep hole in my yard with 10 signs and ropes around it saying "no trespassing, big hole, be careful" and some idiot falls in, unfortunately I am liable and as we all know, you can't fix stupid but stupid can get paid if he has a good lawyer and you have good insurance or a lot of money.

And that's why setting up an offshore trust or corp is so popular among doctors and other professionals who want to go without malpractice insurance due to the high cost of premiums. it makes them pretty much judgement proof.