OK to have pets that can cause harm?

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This pit bull (dog breed) across the street has always made my evening walks, like walks of scare even though confined to a fenced backyard, this dude barks and tries to jump (am gonna get yaa one day kinna of atitude) while people pass by, if try and try mechanism works one day he will be out, no worries for me as I have spotted a easy tree to climb if at all it happens, with lil help from lady lucky that helps me to reach and climb the tree on time, am carrying my cell and no way can this dude climb trees. (Owner has all permission, is responsible and experience of having pit’s in past so nothing can be done legally, at least till nothing bad(forbidd) happens.) Have nothing against pets (love dogs), in-fact had dogs as pet and was planning to provide shelter to one retriever last year… but talking about breeds that can get ferocious and uncontrollable. OK enough of back ground now switching to debate: Animals considered as pets are assumed to be no harms to Human being, but there are certain breeds that might endanger humans, in-fact can be life threatening. Is it right from legality or individuals stand point to have pets that can cause harm (life endangering) in anyways?