The course is offered entirely online, including group discussions, video segments, module notes with live links for references and readings and a comprehensive case study assignment.
Chartered Business Valuators (CBVs) are frequently retained by parties that are involved in litigation proceedings. This elective course helps prepare the valuator to quantify the financial loss incurred by one or more plaintiffs as a result of the alleged harmful actions of one or more defendants. The case study is based on Stuff R Us (a fictional importer of low cost products sold to retailers) that enters into a contract with WeLoveData Inc. (WLD) to take over part of its operations. The relationship between the parties breaks down and Stuff ultimately terminates the contract, alleging non-performance by WLD. The student’s role ultimately is to provide a report on the damages suffered by Stuff. In addition, a number of other unusual events give rise to claims by and against various parties (such as employees and customers), which provide a platform for examination of other damages.
Major topics in this course include:
· The nature of loss quantification
· The court system, litigation process and evidence in civil litigation
· The engagement process
· Quantification of damages and other awards
· Torts and personal injury damages.
Module 1 − The Nature of Loss Quantification
This first module is a high-level overview to the topic of loss quantification. The module is designed to introduce you to the purpose of loss quantification, and sets out fundamental concepts and definitions that underscore the practice of loss quantification. The module also discusses various situations where loss quantification analyses might be required.
The topics in this module include:
· Damages in tort and contracts
· The concept of financial loss
· Situations requiring quantification of financial loss
· The concepts of remoteness and foreseeability
· Heads of damages
· The role of the CBV in quantifying financial loss.
Module 2 − The Court System, Litigation Process and Evidence in Civil Litigation
Whether a CBV is called to be an expert witness, prepares a report for the defendant or helps to assess the quantum of the plaintiff’s damages claim, it is important that the CBV is familiar with aspects of the Canadian court system.
This module discusses some of the key components of the Canadian court system, including:
· The types and levels of courts and other tribunals
· The litigation process
· Evidence in litigation.
Module 3 − The Engagement Process
This module describes the process that the CBV must follow from the decision to accept an engagement to attending a trial.
This module discusses the key aspects of the engagement process, including:
· The internal procedures to be completed before accepting an engagement;
· Setting fees
· The engagement letter
· Gathering and analyzing information
· Quantification of damages
· Report writing
· File documentation and referencing.
The appendix to this module contains a sample engagement letter for reference.
Module 4 − Quantification of Damages and Other Awards
This module describes and explains the fundamental concepts behind the quantification of the most common types of monetary awards a court may grant a plaintiff who can prove his/her case.
The topics discussed in this module include:
· Establishing liability in breach of contract actions
· Establishing liability in tort cases
· Damages quantification for breaches of contract or tort
· Present value
· Damages in wrongful dismissal and personal injury cases
· Disgorgement of (or accounting of) profits
· Family law
· Pre-judgment and post-judgment interest.
The appendix to this module contains a sample report.
Module 5 − Torts and Personal Injury Damages
When an individual sustains a physical injury due to the action or inaction of another person, they may seek compensation from the wrongdoer through the court system for heads of damages including loss of future earnings, medical and rehabilitation costs, and pain and suffering. A CBV may be involved in quantifying these damages. The objective in calculating the loss in a tort action is to restore the individual to the economic position they would have occupied had the injury not occurred.
This module discusses the common issues encountered and quantifications methods that are typically used in determining economic losses due to:
· Personal injury
· Wrongful death.
The module also discusses the concept of contributory fault given its relation to the above topics.
The module concludes with four examples that illustrate the quantification of losses in various personal injury scenarios.
Textbooks Required
· No textbooks to be purchased.