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risk n1 a: possibility of loss or injuryb: liability for loss or injury if it occursthe risk of loss passes to the buyer when the goods are duly delivered to the carrier — Uniform Commercial Codethe risk of personal injury and property damage should be placed with the manufacturer rather than the consumer — Case & Comment2 a: the chance of loss to the subject matter of an insurance contract: uncertainty with regard to loss; also: the degree of probability of such loss compare perilb: a person or thing that is a specified hazard to an insurera poor risk for insurancec: an insurance hazard from a specified cause or sourcea war riskrisk·less adj
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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I
noun
alea, bet, chance, danger, discrimen, endangerment, exposure, exposure to harm, gamble, gaming, hazard, imperilment, insecurity, instability, jeopardy, periculum, peril, plunge, possibility, possibility of injury, possibility of loss, precariousness, speculation, stake, uncertainty, venture, vulnerability, wager
associated concepts: acceptance of risk, assumption of risk, extraordinary risk, forseeable risk, incurred risk, insurance risk, limitation of risk, mutuality of risk, risk of loss, shifting of risk, unreasonable risk
foreign phrases:
- Periculum rei venditae, nondum traditae, est emptoris. — The risk of a thing sold, but not yet delivered, is the purchaser's- Ubi periculum, ibi et lucrum collocator. — He who risks a thing, should receive the profits arising from it.- Cujus est dominium ejus est periculum. — He who has the ownership should bear the risk.II index bet, compromise (endanger), danger, endanger, endeavor, expose, gamble, hazard, invest (fund), jeopardize, jeopardy, parlay (bet), pawn, peril, pitfall, speculate (chance), threat, venture
Burton's Legal Thesaurus. William C. Burton. 2006
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n.Danger; peril; uncertainty; the possibility that something might be lost if a particular course of action is followed; the peril against which an insurer protects someone.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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1. the possibility of loss or harm occurring. Normally, the risk of accidental destruction lies with the owner.In respect of goods, the position is regulated by the Sale of Goods Act 1979. Unless otherwise agreed, the goods remain at the seller's risk until the property in them is transferred to the buyer, but when the property in them is transferred to the buyer the goods are at the buyer's risk whether delivery has been made or not. This section expresses the maxim res perit domino ('ownership is lost with the thing'), and the 1893 Act represented a change in the common law of Scotland, which was that risk passed as soon as the contract was formed regardless of the fact that property might not have passed by traditio. In respect of generic sales, the rule does not apply. The applicable maxim in such cases is genus nunquam perit: i.e. 'no commodity ceases to exist.' This principle applies even if the seller's stock from which he had intended to fulfil his bargain is accidentally destroyed. Goods may be treated as having perished when they are so damaged that they no longer answer to the description under which they were sold: Nickoll & Knight v. Ashton, Edridge & Co. [1901] 2 KB 126. It is however, open to the parties to make their own agreement as to risk. The time of destruction of the goods is important. Where there is a contract for the sale of specific goods, and the goods, without the knowledge of the seller, have perished at the time when the contract is made, the contract is void. Where there is an agreement to sell specific goods and subsequently the goods, without any fault on the part of the seller or buyer, perish before the risk passes to the buyer, the agreement is avoided. Where delivery has been delayed through the fault of either buyer or seller, the goods are at risk of the party at fault as regards any loss that might not have occurred but for such fault. Fault for these purposes is defined as a wrongful act or default. 'Default' means a lack of reasonable care in the circumstances.2. in the law of insurance, the danger, peril or event insured against.
Collins dictionary of law. W. J. Stewart. 2001.
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The probability of danger or loss, particularly of property covered by an insurance policy. (See also: assumption of risk)Category: Personal Finance & Retirement
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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n.1 Peril, danger, the chance of loss or injury.2 Liability for injury, loss, or damage, by statute placed upon the manufacturer rather than the consumer, should it happen from normal use of a product.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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The potential danger that threatens to harm or destroy an object, event, or person.
Dictionary from West's Encyclopedia of American Law. 2005.
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The potential danger that threatens to harm or destroy an object, event, or person.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
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n.chances of danger or loss, particularly of property covered by an insurance policy or property being used or transported by another. Insurance companies assume the risk of loss and calculate their premiums by the value and the risk based on statistically determined chances. A trucking company assumes the risk of loss while carrying goods.
Law dictionary. EdwART. 2013.
