Final answer:
Negligence is the legal term used when someone fails to act with due care, potentially leading to harm or damage for which they may be held legally responsible. It's a key principle in tort law for assessing liability. Moral hazard, while related to risk management, is not directly associated with negligence but involves taking greater risks because the consequences are mitigated, such as by insurance.
Step-by-step explanation:
The legal term invoked when an individual fails to act in a reasonable and prudent manner, or without due care, is negligence. Negligence occurs when someone breaches their duty to act as a reasonable person would under similar circumstances, and this breach results in harm or damage to another party. It's a fundamental concept in tort law where the injured party may seek compensation for losses as a result of the negligent action. Cases such as Strickland v. Washington and Padilla v. Kentucky outline the importance of proper conduct and meeting certain standards, whether it concerns the effective assistance of counsel or advising clients on immigration consequences of criminal convictions.
Moral hazard is another concept that can occur when an entity protected in some way, such as through insurance, acts with less caution than they would without the insurance. This concept is not directly related to negligence, but still pertains to the responsibility of individuals and organizations to act with due care to avoid risks.