Is it time for America to have tort reform? If so would loser pays be a good way to fix it?
by 
Payton Parker
ANSWERS: 1
-
Loser pays would work when the law and facts are clear. However, this is rarely the case. The best tort reform would be to cap the amount of punitive damages that a plaintiff could keep. For example, if a person sues a company and wins $10,000 in compensatory damages and $2 million in punitive, we should limit the plaintiffs payout to something like 3 times the compensatory damages. Thus, our plaintiff would collect $40,000. The rest should go to help administer the court system, or to a victim compensation fund, etc.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC