Draft Limited Liability‚ Rights of Control and the Problem of Corporate Irresponsibility Paddy Ireland Abstract There is has long been a tendency to see the corporate legal form as presently constituted as economically determined‚ as the more or less inevitable product of the demands of advanced technology and economic efficiency. Through an examination of its historical emergence‚ focusing in particular on the introduction of general limited liability and the development of the modern
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Case Study Vicarious Liability Introduction Under the English Common Law‚ Vicarious liability is a principle of the tort laws. The law imposes liability of employees and agents to their employers. Under this law‚ the liability of any tort committed by an employee that falls under the scope of his duties to the employer is transferred to the employer. This includes both the intentional and unintentional torts. The inclusion of the intentional torts came in to effect after the ruling in the case
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Seminar 7 Vicarious Liability The problem question deals mainly with the issue of Vicarious Liability and Negligence. In order to advise Jerry one would have to explore the rules of vicarious liability‚ relevant statute law and case law which may apply. Vicarious liability has been defined as the person who commits a wrong must be an employee and not an independent contractor‚ the employee must have committed a tort and the tort must have been in the course of employment. The doctrine of ‘vicarious
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Teacher Liability University of Phoenix AED/201‚ Week 5 Erin Witt February 5‚ 2012 Your Results for "Classroom Management " | Print this page | Book’s Title: | Introduction to Teaching: Becoming a Professional | Book’s Author: | Kauchak | Location on Site: | Home > School Law: Ethical and Legal Influences > Reflect on This > Classroom Management | Date/Time Submitted: | February 6‚ 2012 at 4:05 AM (UTC/GMT) | | Summary of Results | All 3 questions in this activity
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Products Liability Research Paper By Bobby Brown Sunbeam is an American made brand that has produced various household appliances since 1910. Their products have included the Mixmaster mixer‚ the Sunbeam waffle iron‚ Coffeemaster‚ and an automatic toaster. In 1928‚ the company’s head designer‚ Swedish immigrant Ivar Jeppsson‚ invented the Mixmaster mixer. Introduced to the public in 1930‚ it was the first mechanical mixer with two detachable beaters whose blades interlocked. Barbara Thompson
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financial accounting standards statement sets up the foundation for reporting and accounting for loss contingencies. A contingent liability is a potential liability that might‚ or might not happen in the future. For example this could be a lawsuit‚ a product warranty‚ a possible tax assessment‚ a government investigation‚ or even an environmental contamination. A contingent liability and the associated loss are recorded as a journal entry only if the contingency meets these two criteria; A.) the contingency
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The European Accounting Review 2000‚ 9:3‚ 371 385 Auditor liability rules under imperfect information and costly litigation: the welfare-increasing eŒ of liability ect insurance Ralf Ewert‚ Eberhard Feess and Martin Nell University of Frankfurt‚ Frankfurt am Main ABSTRACT This paper examines auditor liability rules under imperfect information‚ costly litigation and risk-averse auditors. A negligence rule fails in such a setting‚ because in equilibrium auditors will deviate with positive probability
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Principles of Liability – Coursework Assessment Two For a contractual agreement to withstand‚ it is crucial that the contract contains the four main components‚ which are; offer‚ acceptance‚ consideration and the intention to create legal relations. A contract is seen as a legally binding agreement between two parties‚ so It is very important for the court to establish a ‘consensus ad idem’; the meeting of minds in order to judge whether a contract exists. Britney’s first meeting with
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in the business of receiving deposits (liabilities) and to issue debt securities on one hand and create or invest in assets on the other hand during these transactions banks incur costs for their liabilities and earn income from their assets. Asset – liability management is therefore very critical for the sound management of the finances of any organisation that invests to meet its future cash flow needs and capital requirements. An efficient asset-liability management requires maximising the bank’s
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Estimated liabilities are a known obligation that is of an uncertain amount but that can be reasonable estimated. Common examples are employee benefits such as pensions‚ heath care and vacation pay‚ and warranties offered by a seller (Fundamental Accounting Principles‚ Chapter 11‚ Pg 437). When a firm sells products or renders services with a warranty‚ the firms has an obligation towards the customer when the warranty is honored. The warranty liability is an estimate of the obligations. Hence‚ a
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