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Home > QFINANCE Dictionary > Definition of negligence

Definition of

negligence

General Management

failure to act responsibly a breach of a duty to act with expected care in conducting activities, resulting in harm to one or more people. Negligence occurs when an organization causes harm or injury through carelessness or inattention to the needs of the groups to which it owes a duty of care. These can include its customers, consumers of its product or service, shareholders, or the local community. Victims of negligence are entitled to claim compensation. Negligence is considered to be gross negligence if it is the result of excessively careless behavior.

Definitions of ’negligence’ and meaning of ’negligence’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’negligence’ and other financial terms with our online QFINANCE Financial Dictionary.

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