Limited Liability Personal Definition: In the event a liability arises‚ limited liability prohibits the available assets to only the business entity itself. Essentially‚ the investor cannot lose more than he or she puts in. This protects the individuals working for the entity on a personal level. Nobody can attack his or her personal assets‚ unless the individual exhibits some form of activity that qualifies for piercing the corporate veil. Investopedia Definition: A type of liability that does
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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
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CYBER TORTS WITH REFERENCE TO CYBER CRIME INTERFACE BETWEEN TORT AND OTHER AREAS OF LAW CYBER TORT AND CYBER CRIME- AN INTRODUCTION A space without frontiers is known as cyber space and the laws governing it is known as cyber
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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
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be deemed submitted for decision upon simultaneous memoranda of the parties and upon submission of complete transcripts. Thereafter‚ the trial court rendered its Decision in favor of the [petitioners] absolving Inland Trailways‚ Inc.‚ from any liability whatsoever‚ and against Philtranco Service Enterprise‚ Inc.‚ ordering the latter to pay the [petitioners]: 1) P10‚000.00 as actual damages for medical and miscellaneous expenses; 2) P50‚000.00 as
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? Limited liability company The idea began to resonate in my mind about a year ago that I should have a career that I would love and really enjoy going to work for. Soon after I came to that conclusion it dawned on me that that job for me would be to own my own coffee shop. Choosing what the business does is only a drop in the bucket when it comes the steps of creating that business. First I need to decide whether I should go into this business venture with someone else‚ otherwise known as
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(a) Al‚ a terrorist captures Bill. Al says “unless you kill Tony I will kill your family”. Bill kills Tony. (b) George‚ a depressed terrorist‚ captures Margaret. George says “unless you kill me I will kill your family.” Margaret kills George. (c) Cedric‚ a particularly fat pot-holer‚ gets stuck in the entrance to a pot hole. Three other pot-holers are stuck inside. After four days‚ without food‚ and all attempts to move Cedric having failed‚ one of the three (Dave) blows Cedric up with dynamite
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PARTY LIABILITY) WORD COUNT 3000 The liability of auditors to third parties has been the subject of much litigation. Litigation claims against accountancy firms have increased dramatically in the last thirty years. Previously‚ such cases were rare and were viewed with great interest. Nowadays‚ whereas still treated with great interest they are becoming all kind of common. The specific area of auditors ’ liability to third
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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
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CERTIFICATION This academic report is a product of SANDRINE NJEMO NKA’A from an industrial training program at N ATIONAL PORT AUTHORITY CREDIT UNION LEAGUE [NPACCUL] for the period of August 1 to September 30. This report has been carefully developed in accordance to the conditions and criteria that satisfy the award of B.SC Accounting Degree from the Catholic University Of Bamenda Cameroon [CATUC]. Signature; ………………………………… ……………………………… The Manager NPACCUL
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