commercial tort claim

commercial tort claim
A claim rising as a result of a tort that ( a) does not include damages arising out of a personal injury or death and ( b) arises out of the normal course of business from either an individual or organization. A category of personal property collateral defined by the 2001 revisions to Article 9 of the UCC.
See tort. American Banker Glossary

Financial and business terms. 2012.

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  • commercial tort claim — USA Defined in UCC § 9 102 (a)(13) as a claim arising in tort with respect to which: • The claimant is an organization; or • The claimant is an individual and the claim: o arose in the course of the claimant s business or profession; and o does… …   Law dictionary

  • tort — A legal term for a wrongful act that results in an injury or damages to another person or entity that is not contractual in nature. See commercial tort claim * * * tort tort [tɔːt ǁ tɔːrt] noun [countable, uncountable] LAW an action that is wrong …   Financial and business terms

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  • Warranty — In commercial and consumer transactions, a warranty is an obligation or guarantee that an article or service sold is as factually stated or legally implied by the seller, and that often provides for a specific remedy such as repair or replacement …   Wikipedia

  • Surrogatum — is a thing put in the place of another or a substitute. [New Shorter Oxford English Dictionary. 1997. Version 1.0.03] The Surrogatum Principle pertains to a Canadian income tax principle involving a person who suffers harm caused by another and… …   Wikipedia

  • Nisshin Shipping Co Ltd v Cleaves & Co Ltd — Court High Court Citation(s) [2003] EWHC 2602 (Comm) Keywords Privity, CRTPA 1999 Nisshin Shipping Co Ltd …   Wikipedia

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