attaining the majority or knowledge of admission to the benefits of partnership firm. When the minor fails to give such notice within a period of six months‚ automatically he becomes a partner at the end of six months. The minors are having some liabilities after becoming a partner on attaining majority and he becomes personally liable for all the acts of the firm done since the date of his admission. Moreover‚ he can impliedly ratify the acts of the firm done during his minority. When it comes to
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There is no statutory definition of Intention and there is also no agreement in English Law as to the meaning of Intention. Its meaning is to be found in judicial decisions. Unfortunately there has been lack of consistency in the approach of the courts to the issue. The concept of intention and recklessness are distinct with one another. The definition of intention should not overlap with the definition of recklessness. It is generally accepted that it is central and core meaning of intention is
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Limited Liability Corporation and Partnership Paper FIN/419 Limited Liability Corporation and Partnership Paper A basic idea starts every business. When starting a business‚ a decision has to be made as to what form of business entity needs to be established. Protection and capitalization of the business must also be established‚ with the most basic question being what type of entity should be used when moving forward with the business. There are many different factors that have to be
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The correct way of raising a child? Sophia Chua-Rubenfeld’s essay “Why I love my strict Chinese mom” is a response to the all the negative feedback her mother had gotten for her essay “Why Chinese Mothers are Superior”. The intention of this essay is to persuade and inform the reader of why Amy Chua raised her daughter Sophia the correct way. Chua-Rubenfeld’s first argument is that the critics (the outsider) have no clue of what the Chua-Rubenfeld family is like (p. 2‚ l. 21). The fact that Chua-Rubenfeld
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the highest level of significance. Therefore‚ product liability is known as an issue which can jeopardize whole the business. There are many cases about companies who went bankrupt due to small potential liability issues which in normal circumstances nobody noticed and considered them as a factor. That is why only experienced and veteran attorneys handle product liability concerns and that is the reason why a company must consider product liability as one of its potential risks with high level of consequences
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Critical Thinking in the Legal Environment: Torts and Products Liability University of Maryland University College Introduction Through the use of the precepts of product and service liability law‚ consumers can go to court to be compensated for the injuries and/or losses they experienced when using a particular product or service. Product liability cases are a significant portion of United States litigations; there are approximately one million cases a year (Kubasek‚ Brennan
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Week Two Learning Team Reflection on Personal Liability Law/531 October 2‚ 2012 Week Two Learning Team Reflection on Personal Liability Benefits to Commerce Team C colleagues decided on the following opinions in respect to the advantages of commerce using shareholders and other entities for protection against personal liability losses. Commerce is the buying and selling of goods or services within cities‚ states‚ and globally. The legal structure of a business will establish the liable
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3.2.2 Threaten airports and governance’s liability Under radical uncertainty making airports’ governance fully responsible for potential damages seems difficult. In fact‚ their liability depends heavily of how the local and national authorities considered (or consider) the rise of seas associated to climate change. This last one depends on the convergence or the divergence of scientists’ views about a given event (here the strength and the range of the rise of the seas). Case 1: Convergent views
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Should parents be strict with their children in order to help them succeed? Some parents choose to let their kids have fun and live the life they want. Other parents are strict with their kids to shape them into what they want their kid to be. The story “Teenage Wasteland” by Anne Tyler is about a strict mom‚ Daisy‚ who doesn’t let her son‚ Matt‚ do anything on his own. Parent’s rules and actions may impact a child’s emotional‚ academic and social well-being. When parents are strict with their kids
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more loosely Constitution Jefferson believed in a strict Constitution. Hamilton believed in a strong central government‚ without a strong government how will we protect our country‚ we need power. Hamilton also thought that the wealthy‚ well born and educated people should rule. If you aren’t educated or don’t have any knowledge about how the government works how will you know what is right for the citizens and country. Jefferson believed in a strict Constitution‚ he felt as if the national bank would
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