List and Explain the generally recognized business torts Research Paper

List and Explain the generally recognized business torts - Research Paper Example There are actually three basic business torts; namely, malfeasance, misfeasance, and nonfeasance. There could be other particular business torts but all these are related or derived from the said basic three. 1. Malfeasance This is a business tort that is committed maliciously by the perpetrator. This means that there is a clear intent against the aggrieved party, such as the aim of causing such the potential loss of revenues by the said business entity. Business malfeasance must, however, be distinguished from corporate malfeasance. This is especially because both are committed in the same sector. In corporate malfeasance, it is an employee or an executive that causes harm to the company whereas in business malfeasance, one party in a partnership, such as a joint business venture could be the perpetrator. An example of this is that of two companies who have agreed on a raw material sales transaction. Company A is involved in providing finished products to a certain distributor. Comp any B, on the other hand, sells raw materials to Company A.