creates harm should make things right by compensating those harmed II. Classification of Torts * In the US‚ torts are classified as intentional‚ negligent‚ or strict liability. * Negligent Torts occur when the defendant acts in a way that subjects other people to an unreasonable risk of harm * Strict-Liability Torts occur when the defendant takes an action that is inherently dangerous and cannot ever be undertaken safely‚ no matter what precautions the defendant takes *
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A to Z of Limited Liability Partnership A. INTRODUCTION The concept of Limited Liability Partnership (LLP) in India is viewed as an alternative corporate business vehicle that provides the benefits of limited liability and also allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. The revised Bill received the assent of the President of India on 7‚ January 2009. LLP is a body corporate formed and incorporated under
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Chapter 11 Current Liabilities and Payroll Questions 1. A current liability is one that is payable within the coming year or within the company’s normal operating cycle if longer than a year. All other liabilities are long-term. A contingent liability is a potential liability that depends on a future event arising out of past events. The future event will determine the amount and existence of the liability. A contingent liability may or may not become an actual obligation. 2. The company reports
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Professional Regulation and Criminal Liability of Nurses Christopher Ponciano September 27‚ 2010 Legal Issues in Health Care: Regulation and Compliance (HCS/430) University of Phoenix Professional Regulation and Criminal Liability of Nurses The health care field is a very complex workplace environment and the terminology like malpractice encompasses the negligence of health care professionals. In the past‚ there is a division that existed between physicians and nurses. Additionally
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|Francis Marion University | |Exposure of the Accounting Profession To Increasing Liability | |Response of the Profession | |
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Bond Law Review Volume 10 | Issue 2 Article 6 12-1-1998 Holding Company Liability for Debts of its Subsidiaries: Corporate Governance Implications Damien Murphy Follow this and additional works at: http://epublications.bond.edu.au/blr Recommended Citation Murphy‚ Damien (1998) "Holding Company Liability for Debts of its Subsidiaries: Corporate Governance Implications‚" Bond Law Review: Vol. 10: Iss. 2‚ Article 6. Available at: http://epublications.bond.edu.au/blr/vol10/iss2/6 This
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3. Principles on which vicarious liability is based The doctrine of vicarious liability is based on principles which can be summed up in the following two maxims : (a) Qui facit per alium facit per se :- The maxim means‚ ‘he who acts through another is deemed in deemed in law as doing it himself’. The master’s responsibility for the servant’s act had also its origins in this principle. The reasoning is that a person who puts another in his place to do a class of acts in his absence‚ necessarily
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PROPERTY‚ LIABILITY AND PECUNIARY LOSS INSURANCE(PLPLI) PU‚ BBA-BI 6th Semester By Baikuntha Raj Timasina MBA‚ BEd TU Fire Insurance 2 Fire is a magnificent servant but a terrible master Insurance that is used to cover damage caused by fire is fire insurance Specified form of property insurance‚ designed to cover the cost of replacement‚ reconstruction or repair Policy cover damage to the building itself and may also cover the damage to nearby structure‚ personal property and expenses
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Adam Gonzalez Individual Research Project BA: Business Law (3301) Thursday 7:00 – 9:45 November 17‚ 2011 University of Houston – Downtown 100 Main St. Houston‚ TX 77002 Adam Gonzalez Engagements‚ Responsibility and Liability: Ethics Implications People act unethically for a number of reasons. Unethical behavior is defined as behavior that contravenes rules designed to maintain the fairness and morality of a situation. The study of business ethics and its implications for different
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world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities = Assets + Owners ’ Equity C. Assets = Liabilities + Owners ’ Equity D. Assets + Liabilities = Owners ’ Equity 4. Nearly a week before Hurricane Katrina reached New Orleans‚ Wal-Mart began moving trucks and supplies into position‚ as specified in the company ’s ________ plan.
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