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Assumption of risk is a defense, specifically an affirmative defense, in the law of torts, which bars or reduces a plaintiff's right to recovery against a negligent tortfeasor if the defendant can demonstrate that the plaintiff voluntarily and knowingly assumed the risks at issue inherent to the dangerous activity in which the plaintiff was participating at the time of their injury.
Debt Assumption, or simply assumption, was a US financial policy executed under the Funding Act of 1790. The Washington administration pursued the policy, under Secretary of the Treasury Alexander Hamilton 's leadership, to assume the outstanding debt of states that had not yet repaid their American Revolutionary War bonds and a scrip.
An appraiser performing and communicating an appraisal under USPAP may estimate value assuming facts and conditions proscribed by a legal presumption, but a determination would have to be made whether the assumption is an extraordinary assumption or hypothetical condition and communicated appropriately as required under USPAP.
In law, a presumption is an "inference of a particular fact". [1] There are two types of presumptions: rebuttable presumptions and irrebuttable (or conclusive) presumptions. [2]: 25 A rebuttable presumption will either shift the burden of production (requiring the disadvantaged party to produce some evidence to the contrary) or the burden of proof (requiring the disadvantaged party to show the ...
One type of estoppel recognised in Canada's common law jurisdictions is estoppel by convention, which operates where three criteria are satisfied: 1) a "manifest representation" of a "shared assumption of fact or law" pertaining to the application or construction of a contractual term, 2) one party acts in reliance of the "shared assumption" in ...
Subrogation is the assumption by a third party (such as a second creditor or an insurance company) of another party's legal right to collect debts or damages. [1] It is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for their own benefit. [2]
The Scots law of delict similarly recognises the principle and defence of volenti non fit injuria. US tort law has a similar but more complex legal principle known as assumption of risk. US law recognizes at least two major overlapping dichotomies between different kinds of assumption of risk (primary v. secondary, express v. implied).
An axiom, postulate, or assumption is a statement that is taken to be true, to serve as a premise or starting point for further reasoning and arguments. The word comes from the Ancient Greek word ἀξίωμα ( axíōma ), meaning 'that which is thought worthy or fit' or 'that which commends itself as evident'.