Limited Liability Corporation and Partnership In the United States‚ limited liability companies increased rapidly throughout the past 10 years. These structures permit businesses to decrease federal tax liabilities by federal pass-through provisions (Bean & Bilyeu‚ 1997). Limited liability can apply to any non-corporate business‚ in any state‚ and provides characteristics of a corporation and a partnership. Individual states regulate the operations of the LLCs. However‚ companies with limited
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The Differing Principles of Assessment of Damages in Tort and Contract By Raphael Kok 1. Introduction For those in the legal fraternity‚ the question of whether a legal wrong has been committed in various situations predominantly occupies their concentration. This holds true‚ even purely in the civil context. When confronted with a problem‚ the question that immediately blazes in their mind is this: “Is there a breach of tortious duty or a breach of contract here?” However‚ the layman’s
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Legal Liability 0f Parents Parents should and should not be held legally responsible for their children ’s actions. Parents who are incompetent and parents who are in the system themselves should be held responsible for their children ’s actions. Parents who are handicapped and parents who are competent should not be held responsible for their children ’s actions. Parents that do not rear their children should be held responsible. There are parents who do not care what the child does as
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and the toys watch Andy leave sadly. This movie is very touching and I feel a lot after watching this movie. The toys leave their beloved master and try all ways to go back to their master. We can see the relationship between the toys and Andy and they love each other so much. In the day-care center‚ we can see and feel the relationship between the toys. They plan and help each other to leave. Each of them has involves in this project and they
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Product Liability Law Outline I. Introduction Imagine getting the same old dog or cat food for your pet that you always get and all of a sudden your pet gets sick and dies. Is this a case that can be filed against the business you bought the food from‚ the company that made the food‚ or both? Should companies be held accountable to a higher degree? II. Definition of Product Liability Business Law: The Ethical‚ Global‚ and E-Commerce Environment
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Civil Liability and Private Police Civil Liability and Private Police The police forces’ assignment - to preserve order and peace - is an unsubstantiated one convoluted by innumerable factors that appear exceptional to all situations officers have to manage‚ whether controlling a commotion or arresting suspects. In this case‚ the officers every so often are obliged to make use of force throughout their responsibilities‚ whether throughout an arrest or protecting the public‚ themselves
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circumstances where an employer can be held liable for the torts of his/her employees. And after that I will focus on some of the reasons why one person is held liable in certain situations for the torts committed by another person. And then I will finally finish the essay with a conclusion at the end. Vicarious liability is where one person is held liable for the torts of another‚ even though that person did not commit the act itself. For an employer to be held liable for the tort of her/his employees‚ three
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Types of Risk Stand-Alone Risk This risk assumes the project a company intends to pursue is a single asset that is separate from the company’s other assets. It is measured by the variability of the single project alone. Stand-alone risk does not take into account how the risk of a single asset will affect the overall corporate risk. Corporate Risk This risk assumes the project a company intends to pursue is not a single asset but incorporated with a company’s other assets. As such‚ the
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• Industries in the case can be organized into five groups consisting of A. Financial industry High receivables (loans) and payables (deposits‚ other loans)‚ little inventory Commercial banking (2) 2 has the highest receivables and payables (both note payable and account payable). It has no raw materials‚ work in progress and finished goods‚ which are characteristics for a bank. B. Retail industry Lots of inventory‚ low gross profit percentage Retail grocery stores(1) 1 has the lowest
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Tort Reform Legislation The Seventh Amendment to the United States Constitution provides for the right to a jury trial in certain civil lawsuits. The proponents of tort reform legislation believe that in recent past there have been abuses in the civil justice system that need to be limited. In contrast‚ the opponents of the legislation believe that access to courts in order to seek remedy when deliberately or negligently harmed is vital for safeguarding individual rights. Opponents also believe
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