The European Accounting Review 2000‚ 9:3‚ 371 385 Auditor liability rules under imperfect information and costly litigation: the welfare-increasing eŒ of liability ect insurance Ralf Ewert‚ Eberhard Feess and Martin Nell University of Frankfurt‚ Frankfurt am Main ABSTRACT This paper examines auditor liability rules under imperfect information‚ costly litigation and risk-averse auditors. A negligence rule fails in such a setting‚ because in equilibrium auditors will deviate with positive probability
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each part relevant to the understanding of responsibility and liability in the company by the company management. Introduction- will provide some information in the relation to the financial information. Why do we need it and how it has been develop across the years? It will also provide the base understanding of why we need the financial report and how he affects the responsibility or the liability of the company management. Liability versus responsibility- will provide some basics understanding
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Strict Liability “The law presumes that mens rea is always required in criminal offences‚ unless it is clear that Parliament intended an offence to be one of strict liability”. Discuss. (25marks) The general principle of criminal law is that the prosecution must establish the presence of both actus reus and mens rea. As the majority of criminal offences are created by statute‚ Parliament will usually indicate the kind of mens rea required
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Products Liability 1. Construct a fact pattern [an example] to clearly delineate: a. A Manufacturing Defect: A car’s braking system that does not work properly and causes the driver to get into an accident. b. A Design Defect: A type of sunglasses that fail to protect the eyes from ultraviolet rays. c. A Marketing Defect: Prescription drugs advertised as “virtually non-toxic‚” “safe‚” and “free of significant side effects” when they are not. They failed to state
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Supplies’ CEO has asked you to advise him on the facts of the case‚ and your opinion of their potential liability. He wants to settle the case. Write a memo to him which states your view of whether the company is exposed to liability on all issues you feel are in play. Include in your memo any laws which apply and any precedential cases either for or against Teddy’s case which impact liability. Include in the memo your suggested "offer of settlement" to Virginia. Back up your offer using your analysis
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TOPIC: WHAT IS TORT‚ AND TORTIOUS LIABILITY ? From a legal standpoint‚ a tort is a private or civil wrong or injury (other than a breach of contract) for which a court of law may provide a remedy through a lawsuit for damages (compensation). For example‚ when a person violates his/her duty to others created under general (or statutory) law‚ a tort has been committed. Tort law relies heavily on the common law‚ the legal opinions of the Courts‚ general trends in the community‚ and legal scholarship
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Journal of International Management 8 (2002) 223 – 240 Liability of foreignness to competitive advantage: How multinational enterprises cope with the international business environment Deepak Sethi*‚ Stephen Guisinger 1 University of Texas at Dallas‚ P.O. Box 830688‚ Richardson‚ TX 75083-0688‚ USA Abstract An expanded and holistic conceptualization of the liability of foreignness (LOF) is presented that goes beyond the traditional foreign subsidiary – local firm dyad in the host country.
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Product Liability Research Paper Shericia Bonnett Professor Kapalko LEG 500 – Law and Ethics In the Business Environment 09/09/2012 Consumers use a variety of products on a daily basis to assist them in accomplishing a task or completing a project and they expect the product to be properly designed and safe to use. However‚ in the event that a product is defective and causes injury to the person using it‚ the manufacturer may be liable for the injury and have to compensate the injured
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DEFENITION: STRICT LIABILITY RYLANDS V FLETCHER CASE i. FACTS ii. DIAGRAMATICAL REPRESENTATION iii. JUDGEMENT iv. EFFECTS OF THE CASE v. EFFECTS OF THE CASE IN INDIA vi. CONCLUSION vii. ESSENTIALS EXCEPTIONS BIBLIOGRAPHY STRICT LIABILITY • A person may be liable for some harm even though he is not negligent in causing the same or does not intentionally cause it or is careful or has taken steps to prevent the same. • e.g.‚ The defendant is liable to the neighbor
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OCCUPIERS LIABILITY The occupancy of premises is affected by two statues: 1) The occupier’s liability act 1957. Under this act there is a duty to keep safe and lawful visitors to the premises 2) The occupier’s liability act 1984. Where an occupier may owe a duty to protect trespassers onto the premises. LAWFUL VISITORS A lawful visitor has permission to enter premises. This can be expressed permission of implied. There are four situations covering implied permissions: 1) If the occupier
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