Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Titanic submersible lost at sea raises legal questions for high-risk businesses

by June 22, 2023
June 22, 2023
Titanic submersible lost at sea raises legal questions for high-risk businesses

The decision by five people to undertake a dangerous and most likely ill-fated undersea voyage to visit the wreck of the Titanic is raising questions about the liabilities assumed by people and businesses taking part in risky activities.

Experts say that no set rubric determines whether a business will have to pay damages in the event of a mishap and that most operators buy liability insurance anyway because the waiver forms they ask clients to sign may not ultimately be enforceable.

In the U.S., whether a business operator becomes liable for a catastrophe can depend on the laws of the state where the business operates or even a judge’s interpretation of the waiver form, said Kenneth S. Abraham, a distinguished professor of law at the University of Virginia.

‘There’s some variation from activity to activity and jurisdiction to jurisdiction,’ Abraham said.

In the case of OceanGate, the Washington-based company that oversaw the trek to the Titanic that has captivated the world this week, guests were asked to sign a liability waiver that emphasized the possibility of death, said a former passenger, the longtime television writer Mike Reiss.

But that may still not absolve the company in a wrongful death case.

‘If an operator behaves recklessly, most courts will not let the operator off the hook,’ said Nora Freeman Engstrom, a law professor at Stanford University.

Many waiver forms that are signed before high-risk recreational activities take place, like skydiving, snorkeling or skiing, are frequently enforceable, as long as they are clearly written, said Engstrom, who added that the scope of an accident, should one occur, also must be encompassed within the contracts.

A representative for OceanGate did not respond to a request for comment.

Nonetheless, the mere existence of the waiver form may not deter a trial lawyer, Abraham said. The overwhelming majority of lawsuits headed to trial ultimately result in settlements, he said.

Numerous lawsuits are filed against skydiving, scuba, parasailing and other extreme-activity companies every year, records show, some of which result in large settlements. The cases, however, can take years to litigate.

In February, a Montana-based scuba company settled a suit out of court after a guest died during a dive at Glacier National Park in 2000, before the business shut down.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Forum Closes $3 Million Flow Through Share Private Placement
next post
Pennsylvania eyes looser medical marijuana regulations

Related Posts

Stellantis CEO says $25,000 Jeep EV coming to...

May 30, 2024

Amazon taps Xbox co-founder to lead new team...

May 31, 2025

Target doubles bonuses for salaried employees as profits...

March 25, 2024

U.S. homebuilders raise alarm over tariffs as sentiment...

February 20, 2025

JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs...

February 26, 2025

On the sidelines of a pricier Kentucky Derby,...

May 5, 2024

Southwest cuts growth plans, warning effect of Boeing...

April 26, 2024

As their customers age, department stores chase younger...

May 21, 2024

Emirates’ chairman has a message for Boeing: ‘Get...

May 8, 2024

Inflation is easing. What does that mean for...

July 13, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The CappThesis Market Strength Indicator: What It’s Telling Us Now

    • These 25 Stocks Drive the Market: Are You Watching Them?

    • What Happens Next for the S&P 500? Pick Your Path!

    • 3 Stocks Seasoned Investors Should Watch

    • Here’s What’s Fueling the Moves in Bitcoin, Gaming, and Metals

    • Crypto Market Recap: Bitcoin Hits All-Time High as ETF Inflows and Legislation Align​

    Categories

    • Business (1,288)
    • Investing (2,666)
    • Politics (3,699)
    • Stocks (1,716)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved