Lawsuits Gone Wild: Our Out of Control Legal System and the Need for Tort Reform

In the society we live in, it has grow increasingly democratic and to a greater extent common to sue. Whether we see it in the media, talk about it amongst ourselves, or are actu bothy the ones doing the suing, (or being sued) we hump with lawfulnesssuits every day. Now, weve all heard the story about the grandm other than who spilled hot coffee on herself and success enoughy sued McDonalds for nearly $2.9 million, or the man who sued Winnebago and win $1.75 million after crashing his motor domicile off the freeway. tho few of us ever mind what these and all the other outrageous rewards for senseless lawsuits do to the sparing. bugger off we ever wondered if they start out a negative achievement? Have we asked ourselves how they impact us, as consumers? Have we asked how they impact American business? The answer to all those questions is this: Frivolous lawsuits destroy the American economy. Frivolous lawsuits can damage the economy in many ways. They can force companie s out of business, make up the exist of financing and insurance, and be millions of dollars every year in deep in thought(p) time, court awards, and legal fees. Also, litigation can annex the cost of products for consumers, up to 2.5% on an average (Abraham NP). David Bernstein, a law prof at George Mason University estimates that ...

consumer prices could be reduced by 20% if actions are taken to reform the lawsuit run (Javers 25). In addition, the time that is taken to prosecute, defend, settle, and try lawsuits, along with the cost of pay damages, can place a huge chip on the economy, with an estimated $132 billion lost in 1991 alone (Abraham NP). On! cap of all that, the threat of lawsuits often causes financial markets to overreact, and credit-rating agencies become possible to downgrade firms facing the threat... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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