iA Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because‚ similar to a corporation‚ owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership‚ providing management flexibility and the benefit of pass-through taxation. Owners of an LLC are called members. Since most states do not restrict ownership‚ members may include individuals‚ corporations‚ other LLCs and foreign entities
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ARTICLE #19 Vicarious Liability: What Is It and How Does It Apply? From Coverys Risk Management (Tracy L. Melina‚ BS‚ MBA‚ CPHRM) In healthcare‚ there are two main categories of liability: primary and secondary. And while most physicians and other clinicians are constantly aware of how their own actions and decisions affect risk and safety‚ it’s easy to forget about the type of secondary liability known as “vicarious liability” because this type of liability applies when adverse outcomes result
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Donoghue vs Stevenson (1932) is the first case law relevant of liability to third party. However‚ in this case‚ the liability is only established if there are physical harms of loss by third parties (not economic losses) Candler & Crane Chrismas (1951) is the next stage of development‚ where there is liability for financial loss if there is a contractual relationship‚ a fiduciary relationship or a fraud Hedley Byrne & Co Ltd vs Heller & Parties Ltd (1963) is a significant point of development
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There are multiple risks associated with being a police officer that all who choose to work this field must embrace. There is a commission in every state on peace officer standards and training. Each agency must meet the minimum standards required by the state. Once an officer has met those standards and gets hired‚ a lot of training hours are given to the officer for to gain the necessary knowledge and tools for be able to protect the citizens in their community against criminal activities. No matter
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Brief Overview of Limited Liability Companies Introduction Limited Liability Company (LLC) is often considered as the hybrids of general partnership and corporation. It often referred as a general partnership where the partners have no personal liability and a limited partnership where there is no general partner or a partnership surrounded by a corporate shell (Seipel‚ Tunnell & Zimmermann‚ 1995). The LLC is first adopted in Wyoming in 1977 and then in Florida in 1982. However‚ LLCs
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Private Security Organizations‚ companies‚ and very important people across the world utilize the protection of private security service for the protection of their personal property and assets. These services provide protection from any type of loss that may be experience ensuring the safety of the company and the individual. One private security service that is used by most organizations in the United States is Loss Prevention. Loss Prevention entails numerous of responsibilities for the company
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ways‚ gun ownership liability is like that of automobile ownership. You drive your car as safely as possible to avoid accidents that can potentially cause injury or death to oneself‚ one’s family‚ or the public. You do your best to prevent theft of your car by locking it and storing it in a safe place such as your garage. You also take out auto insurance that protects you from its loss and its liability risks. Unfortunately‚ many car owners don’t actively think about liability coverage for their
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Securing America and Protecting Civil Liberties September 11‚ 2001 was one of the most devastating disasters that our nation had encounter. The fact that we had been targeted on our own land and the fact the terrorist were being trained being here in the United States put fear and a sense of insecurity in our nation. The terrorist attacks upon our nation prompt the Bush administration to make homeland security its top priority. The focus was to make an effort to prevent future terrorist
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the right of private defence of person and property. The provisions contained in these sections give authority to a man to use necessary force against an assailant or wrong-doer for the purpose of protecting one’s own body and property as also another’s body and property when immediate aid from the state machinery is not readily available and in so doing he is not answerable in law for his deeds. Section 97 says that the right of private defence is of 2 types:- (i) Right of private defence of body
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forms of business entities available‚ a recent one being limited liability partnerships (LLP)‚ created by the Limited Liability Partnership Act 2000 (LLPA). This act came into force on the 6th of April 2001. As‚ LLP’s have qualities similar to partnerships‚ they are seen as a hybrid between a partnership and a company. An LLP is a ‘corporate body’ with ‘separate legal personality’‚ distinct from its members. Members enjoy limited liability and are not jointly and severally liable for the debts of the
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