Which statement regarding the tort of negligence is correct?

The statement regarding the tort of negligence correctly asserts that it provides a legal remedy for individuals who have sustained harm to themselves or their property due to another party’s failure to exercise reasonable care. This principle is fundamental in tort law, which is designed to protect individuals from harm caused by the negligent acts of others.

In tort law, a person can claim damages if they can establish that the defendant had a duty of care to them, that the duty was breached, and that this breach caused foreseeable harm. Thus, if someone sustains an injury or property damage because another person did not act with the care that a reasonable person would have exercised under similar circumstances, the injured party may pursue a claim for negligence.

The other options involve misunderstandings of key legal concepts. The duty of care is not unlimited; it typically exists within certain relationships and circumstances as established by case law. It's also important to note that a tort claim can coexist with a contractual relationship; the existence of one does not negate the possibility of pursuing a claim in tort. Lastly, while courts can recognize claims where a duty is owed to a broader group, extending the claim to the world at large is not typically how duty of care is applied; rather, it is confined to certain foreseeable plaintiffs.