THE LIMITED LIABILITY COMPANY A popular form of business‚ especially with small businesses‚ is the hybrid form of business‚ the limited liability company (LLC) or a limited liability partnership (LLP)‚ which combine the best features of a partnership and a corporation. In 1988‚ the Internal Revenue Service (IRS) ruled that the LLC may be treated as a partnership for tax purposes‚ while retaining its limited liability for its owners. Since this ruling‚ every state has passed legislation permitting
Premium Corporation Types of business entity Limited liability company
Police Liability and High Speed Pursuits Rodgers There is a line in the Bible that states “sometimes the wicked flee‚ when no man pursueth‚" (Proverbs 28:1‚ King James Version)‚ law enforcement officers know only too well that there are numerous instances in which motorists flee‚ despite the fact that they are being pursued‚ and are lawfully being commanded to pull over and stop‚ for purposes of investigation‚ citation for traffic offenses‚ or for arrest of a more serious crime. Police pursuits
Premium Crime Police Traffic collision
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
Premium Common law Audit Duty of care in English law
Profit and loss accounts‚ balance sheets Profit and loss accounts‚ balance sheets Two of the most important financial statements for a business are the Profit and Loss Account‚ and the Balance Sheet. The Profit and Loss Account shows the profit or loss of a business over a given period of time e.g. 3 months‚ 1 year‚ etc. In contrast‚ the Balance Sheet is like a photograph taken at an instant in time giving a picture of what the business owns and what the business owes at that moment in time
Premium Generally Accepted Accounting Principles Balance sheet Inventory
What is Cochlear Damage? The cochlea is a tiny‚ snail-shaped structure. It is the main organ of hearing and is part of your inner ear. Cochlear Damage means that all or part of your inner ear has been hurt. Damage to the cochlea typically causes permanent hearing loss. This is called sensorineural hearing loss (SNHL). Many things can cause SNHL‚ or cochlear damage‚ including loud or extended noise exposure‚ certain powerful antibiotics‚ meningitis‚ Meniere’s disease‚ acoustic tumors‚ and even
Premium Ear Cochlea Auditory system
After reading the entire plot synopsis four times‚ and reading everything possible about the Double Jeopardy clause. I can honestly say I found this case extremely interesting and have a strong desire to watch this movie. Now this case if Libby was to actually murder Nick at the end of the movie would certainly involve a massive amount of investigations‚ questions‚ and laws. Now throughout the movie she did in fact commit multiple offenses from deceiving a parole officer‚ to handling a stolen weapon
Premium English-language films Film American films
who 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
Premium Tort Tort law
(Master budget preparation) Sopchoppy Company manufactures a red industrial dye. The company is preparing its 2000 master budget and has presented you with the following information. 1. The December 31‚ 1999‚ balance sheet for the company is shown below. SOPCHOPPY COMPANY Balance Sheet December 31‚ 1999 Assets Liabilities and Stockholders’ Equity Cash $ 5‚080 Notes Payable $ 25‚000 Accounts Receivable 26‚500 Accounts Payable 2‚148 Raw Materials Inventory
Premium Balance sheet Asset Accounts receivable
Germany On 1979 the court established the principle of third party liability as foreseen’ in Federal Supreme Court (sixth civil senate) 1 regarding the case of a German branch of a bank provided wrong information to its potential investors and because of that one of the potential investors suffered a big loss and later sued the bank. But in November 1983 in Federal Supreme Court (fourth civil senate)2‚ death negligence in reporting in a case where buyer of a properly sued the valuer because
Premium Supreme Court of the United States United States Congress United States
The Differences in Competencies Between Nurses Prepared at the Associate-degree Level Versus the Baccalaureate-degree Level. Amanda J. Perez Grand Canyon University: NRS-430V-0105 NRS-430V Professional Dynamics March 10‚ 2013 The Differences in Competencies Between Nurses Prepared at the Associate-degree Level Versus the Baccalaureate-degree Level. Although both an associate-degree level and baccalaureate-degree level prepared nurses may sit for the same NCLEX-RN exam‚ “nurses prepared
Premium Nursing Nurse Health care