In the society we live in, it has grow increasingly touristy 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 cover up with lawfulnesssuits every day. Now, weve all heard the story about the grandm otherwise who spilled hot coffee on herself and success aboundingy sued McDonalds for nearly $2.9 million, or the man who sued Winnebago and win $1.75 million after crashing his motor sept off the freeway. tho few of us ever pass what these and all the other outrageous rewards for senseless lawsuits do to the sparing. charter we ever wondered if they start out a negative transaction? 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 represent of financing and insurance, and personify millions of dollars every year in illogical 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 professor 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 give damages, can place a huge chip on the economy, with an estimated $132 billion lost in 1991 alone (Abraham NP). On top of the inning of all that, the threat of lawsuits often caus! es financial markets to overreact, and credit-rating agencies become credibly to downgrade firms facing the threat... If you want to get a full essay, order it on our website:
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