Quiz - participation forms, documentation) Risk Management...

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Contracts “An agreement or exchange of promises, that creates legally enforceable duties and obligations for all parties to the contract.” – GET IT IN WRITING!! (p. 134) Four elements required for a valid contract : 1) Legal capacity – (e.g., must be 18) 2) Agreement – An offer and an acceptance 3) Consideration – Exchange of something of value (e.g., money in exchange for a product, service, or act) 4) Legality – Must be legal.
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Four Kinds of Treatment 1. AVOIDANCE OF RISK (e.g., cancel, eliminate) 2. TRANSFER OF RISK TO ANOTHER PARTY  (e.g., waivers, insurance, independent contractors,  indemnification clause) 3.   RETENTION OF THE RISK (e.g., self-insurance) 4.   REDUCTION   OF RISK BY REDUCING  HAZARDS (e.g. more training, preventative  maintenance, use of signage, keep records, 
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Unformatted text preview: participation forms, documentation) Risk Management TREATMENT Catastrophic Loss Critical Loss Moderate Loss Low Loss High Frequency Avoidance Avoidance Transfer & Reduction Transfer/ Retain & Reduction Medium Frequency Transfer/ Avoidance & Reduction Transfer/ Avoidance & Reduction Transfer & Reduction Retain & Reduction Low Frequency Transfer & Reduction Transfer & Reduction Transfer/ Retain & Retain & Reduction Severity of Injury or Financial Impact Four Elements of Negligence 1 Duty of Care Special relationship must exist 2 Breach of Duty Relationship was not upheld 3 Proximate Cause The act damaging the relationship caused injury 4 Damages or Harm Injury occurred (not always physical)...
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Quiz - participation forms, documentation) Risk Management...

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