"Describe The Nature Of General Tortious Liability Comparing And Contrasting To Contractual Liability" Essays and Research Papers

  • Describe The Nature Of General Tortious Liability Comparing And Contrasting To Contractual Liability

    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...

    Civil law, Common law, Contract 955  Words | 4  Pages

  • Contractual and Non Contractual Liability

    Contractual and Non-contractual Liability I. Contract A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends to create one or more legal obligations between them. The elements of a contract are "offer" and "acceptance" by "competent persons" having legal capacity who exchange "consideration" to create "mutuality of obligation." Contracts may be bilateral or unilateral. A bilateral contract is an agreement in which each of the...

    Common law, Contract, Contract law 1294  Words | 4  Pages

  • Accounting for Liabilities

    Faculty of commerce and public management Advanced accounting 2 Assignment Group 2 In financial accounting, a liability is defined as an obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future. A liability is defined by the following characteristics: * Any type of borrowing from persons or banks for improving a business or personal income...

    Accounts payable, Asset, Balance sheet 1426  Words | 5  Pages

  • Tort Liability and Contract Liability.

    Tort Liability and Contract Liability A tort is a legal term for "a wrong." The "tort law" is composed of state statutes and court decisions that gives one the right to sue someone who causes harm to them, whether it's a drunk driver, a corporation that manufactures a defective product, a credit card company that overcharges you, or a government bureaucrat that breaks the law or a school official such as a teacher or principal. The law of the state in which the school is located determines a school's...

    Common law, Contract, Duty of care 1493  Words | 5  Pages

  • Vicarious Liability

    A2 law: tort: Vicarious Liability Question 2-Fairness/Unfairness. Vicarious liability arises when one party is responsible for the tort of another. This situation occurs frequently when an employer is held responsible for the torts committed by an employee. An employer can only be held responsible for the torts of an employee, not for an independent contractor. There are also some rules that must be satisfied. First it must be proven that the tortfeaser is an employee. The act the tortfeaser...

    Agency, Employment, Respondeat superior 1999  Words | 5  Pages

  • Sexual Abuse and the Changing Nature of Vicarious Liability

    Case note Sexual abuse and the changing nature of vicarious liability Case: Various Claimants v Institute of the Brothers of the Christian Schools [2012] UKSC 5: [2012] 3 W.L.R. 1319 (SC) According to Steele, vicarious liability is defined as an employer being found liable for the tort of his or her employee, provided that tort is sufficiently connected with the individual’s employment. On the face of it, this definition seems straightforward and clear, however you only need to look at the plethora...

    Employment, Respondeat superior, Strict liability 2426  Words | 7  Pages

  • Vicarious Liability

    Seminar 7 Vicarious Liability The problem question deals mainly with the issue of Vicarious Liability and Negligence. In order to advise Jerry one would have to explore the rules of vicarious liability, relevant statute law and case law which may apply. Vicarious liability has been defined as the person who commits a wrong must be an employee and not an independent contractor, the employee must have committed a tort and the tort must have been in the course of employment. The doctrine...

    Agency, Common law, Employment 1495  Words | 4  Pages

  • Products Liability

    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...

    Common law, Contract, Daubert v. Merrell Dow Pharmaceuticals 1635  Words | 5  Pages

  • Strict Liability

    Running Head: Strict Criminal Liability Strict Criminal Liability Dawn Shaffer Harrison College Criminal Law & Procedure Mr. Royer 5/08/2012 Most people live their lives day to day thinking they are good, upstanding citizens who never break the law, and maybe they are good upstanding citizens with good morals and values, who would never dream in a million years of committing a crime. However, according to (Forbess Law Firm, 2008), a crime happens in the United States every 14.5 seconds...

    Actus reus, Crime, Criminal law 1673  Words | 5  Pages

  • liability of negligence

     Liability of Negligence When a person is said to be liable for an action under the law, it means that they are responsible in some way for the outcome that results either in the law of a nation to be violated which comes under criminal liability, or in an injury to other individuals that is considered to be a civil liability. The main requirement for a liability happens to be intent1, which says that, an individual is not responsible for something that they did not mean to do. However, the...

    Common law, Duty of care, Law 1614  Words | 7  Pages

  • Contingent Liability

    Contingent Liability 1. Analyze why a company would prefer not to disclose its contingent liabilities. In order to understand why a company would or would not disclose his contingent liabilities it is important to know exactly what a contingent liability is. As I have learned throughout all of my accounting studies a liability is simply an obligation or debt that a business owes to an individual or an organization. Now there are many liabilities that include services, payroll, notes, and...

    Accounts payable, Balance sheet, Bernard Madoff 1244  Words | 4  Pages

  • Strict Liability

    Topics in Criminal Law May 25, 2010 Abstract Strict liability crimes require no culpable mental state and present a significant exception to the principle that all crimes require a conjunction of action and mens rea. Strict liability offenses make it a crime simply to do something, even if the offender has no intention of violating the law or causing the resulting harm. Strict liability is based philosophically on the presumption that causing harm is in itself blameworthy regardless of the...

    Actus reus, Crime, Criminal law 1279  Words | 4  Pages

  • Personal Liability

    Personal Liability LAW/531 July 17, 2012 Personal Liability By definition, a shareholder is: One who owns shares of stock in a corporation or mutual fund (WebFinance, Inc. , 2012). A corporation’s shareholders own the corporation. Nevertheless, they are not agents of the corporation (i.e., they cannot bind the corporation to contracts), and the only management duty they have is the right to vote on matters such as the election of directors and the approval of fundamental changes in the...

    Business, Business ethics, Business law 919  Words | 3  Pages

  • Strict Liability

    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...

    Actus reus, Conviction, Crime 2098  Words | 4  Pages

  • current liabilities

    Current Liabilities Week 3 Assignment Beverly Clarkson November 23, 2014 Daniel Carraher RUNNING HEAD: CURRENT LIABILITIES Current Liabilities Current liabilities...

    Accounts receivable, Asset, Balance sheet 1011  Words | 8  Pages

  • Strict Liability

     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...

    Duty of care, John Rylands, Law 1132  Words | 5  Pages

  • contract torts and product liability

     Contracts, Torts and Product Liability Name Institution Chapters 6 and 7 of John McAdams book are on contracts, business torts, and product liability respectively. In order to understand these chapters fully, I will provide an appropriate case and the court’s ruling due to the influence of factors discussed in these two chapters. Before I discuss this case, an introduction on the keywords in these chapters in relation to business law is necessary. A contract is a binding...

    Common law, Contract, Damages 844  Words | 3  Pages

  • Criminal Liability

     Professional Regulation and Criminal Liability Paper Rannya Abdul-hadi HCS-430 June 29th, 2015 Jeanette Fetter Professional Regulations and Criminal Liability The functions of the health care professionals are regulated by laws set to ensure that they observe the highest levels of professionalism in their practices. However, these laws vary from state to state, which means that certain actions can lead to litigations in some states, but not in others. The physicians form part of the health...

    Clinical officer, Crime, Criminal justice 1887  Words | 8  Pages

  • criminal liability

    two principles of criminal liability which have to be relied upon in order to determine the guilt or innocence of the accused person. Therefore the aim of this essay is to discuss the two principles of law for criminal liability with reference to the Penal Code Act, Chapter Eighty Seven (87) of the Laws of Zambia and Zambian decided cases. In order to effectively do this, the essay will begin by generally talking about the two principles of law for criminal liability which are the “Actus reus”...

    Actus reus, Crime, Criminal law 1162  Words | 4  Pages

  • Limited Liability Company

    Brief Overview of Limited Liability Companies Introduction Limited Liability Company (LLC) is often considered as the hybrids of general partnership and corporation. It often referred as a general partnership where the partners have no personal liability and a limited partnership where there is no general partner or a partnership surrounded by a corporate shell (Seipel, Tunnell & Zimmermann, 1995). The LLC is first adopted in Wyoming in 1977 and then in Florida in 1982. However, LLCs...

    Business, Corporation, Limited liability 1444  Words | 4  Pages

  • Occupiers Liability

    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...

    Criminal law, Duty of care, Invitee 1527  Words | 6  Pages

  • Torts and Contract Liabilities and Ways to Avoid Them

    AND CONTRACT LIABILITIES AND WAYS TO AVOID THEM Potential Torts and Contract Liabilities And Different Ways to Avoid Them Abstract People who do business as a sole proprietor or in a partnership are liable for the torts committed by them and for torts committed by the business and its agents. The best way to avoid tort liability is to set establish their business as a corporation or a limited liability company. A corporation or limited liability company will...

    Business law, Corporation, Limited liability 1411  Words | 4  Pages

  • Roles of Limited Liability Corporations and Partnershipsroles of Limited Liability Corporations and Partnerships

    Roles of Limited Liability Corporations and Partnerships Martin M. Komertz FIN 419 3/21/2011 John Wetherington Roles of Limited Liability Corporations and Partnerships In the following paper, I will look to identify the roles and differences between Limited Liability Corporations and Partnerships. Each has different advantages and disadvantages than the other. I will look to break down each and then identify which method of ownership would be the preferred method from an individual...

    Business law, Corporate tax, Corporation 838  Words | 3  Pages

  • Principles of Liability

    Principles of Liability – Coursework Assessment Two For a contractual agreement to withstand, it is crucial that the contract contains the four main components, which are; offer, acceptance, consideration and the intention to create legal relations. A contract is seen as a legally binding agreement between two parties, so It is very important for the court to establish a ‘consensus ad idem’; the meeting of minds in order to judge whether a contract exists. Britney’s first meeting with...

    Contract, Contract law, Contractual term 852  Words | 3  Pages

  • Liability

    Occupiers Liability for Dangerous Premises Occupiers' liability is a field of tort law, codified in statute, which concerns the duty of care that those who occupy (through ownership or lease) real property owe to people who visit or trespass. It deals with liability that may arise from accidents caused by the defective or dangerous condition of the premises. By the expression “Premises” in the context of this topic is meant, not only, land and buildings but also vehicles, railway carriages,...

    Common law, Donoghue v Stevenson, Invitee 5215  Words | 14  Pages

  • Criminal Liability

    Principles of Criminal Liability 1/16/2013 Student ID: Word Count: 2482 Criminal activities are very common in our society. With the intention to hamper the property of other people or causing ill effect to others, criminal activities are occurred usually. Sometimes people involve themselves with some activities to injure others due to personal clash or from ill temperament. Some activities which may be done to cause simple injury...

    Crime, Criminal law, English-language films 2577  Words | 7  Pages

  • Officer Liability

    fficer liability, the next topic for your paper. Although each of the 4 questions seems to ask for nothing more than your opinion, remember that all papers require researched and supported positions and this one is no exception. Here are some tips to help you answer the questions: Do you think that there is a trend in this country towards stopping litigation against law enforcement officials? For this question, you should analyze the two cases and come to a conclusion about their effects on...

    Constable, Law, Law enforcement agency powers 1376  Words | 4  Pages

  • Strict Liability Torts (Product Liability

    Running Head: Strict Liability Torts Strict Liability Torts (Product Liability) Adil Elatillah LEG 300 Professor: Queen Meheux Spring 2012 Strayer University Strict Liability exists in the criminal context as well as civil, it is a legal responsibility for any damages and losses caused by a person or organization due to the act which is defined a fault in the criminal law term. Strict Liability, especially product liability is well known in tort law, of course criminal law and the...

    Common law, Damages, Duty of care 824  Words | 3  Pages

  • Limited Liability

    Limited Liability Corporations and Partnerships Rosangelica Gonzalez University of Phoenix FIN/419 Finance for Decision Making Gerardo Blanco September 29,2010 Limited Liability Corporations and Partnerships Starting a new business requires many decisions, and much planning. One of the earliest and most important decisions is the form of the business, or the type of business entity. Common forms of business entities include sole proprietorships, limited liability corporations (LLC’s), limited...

    Corporation, Limited company, Limited liability 901  Words | 3  Pages

  • Contingent Liability

    contingent liability A potential liability dependent upon some future event occurring or not occurring. For example, a company is named as a defendant in a $1 million lawsuit. Does that mean the company automatically has a liability of $1 million? What if the lawsuit has no merit and can easily be defended? If it is probable that the company will lose and the amount can be estimated, a journal entry is prepared to debit Loss from Lawsuit and to credit Lawsuit Payable. If it is possible but not...

    Accounting equation, Adjusting entries, Asset 1024  Words | 3  Pages

  • Vicarious Liability

    Case Study Vicarious Liability Introduction Under the English Common Law, Vicarious liability is a principle of the tort laws. The law imposes liability of employees and agents to their employers. Under this law, the liability of any tort committed by an employee that falls under the scope of his duties to the employer is transferred to the employer. This includes both the intentional and unintentional torts. The inclusion of the intentional torts came in to effect after the ruling in the case...

    Common law, Contract, Damages 990  Words | 3  Pages

  • Civil Liability

     Civil Liability Civil Liability can be a problem for almost everyone in ever day life. Civil Liability impacts police officer ever day in their lives and at work. It can be defined as a citizen’s responsibility to each other and provided law suits to recover damages for injured caused by failing to carry out these responsibilities. It also very well can impact more than only police officers but anyone put in the situation to deal...

    Civil and political rights, Common law, Law 1362  Words | 4  Pages

  • Product Liability

    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...

    Consumer Product Safety Commission, Consumer protection, Injury 2251  Words | 6  Pages

  • Product Liability

    lawsuits and litigation from everyone suing everyone else, one must ask the question "where does product liability end and consumer responsibility begin?" This question has been further complicated by occurrences that stretch to the most far-reaching ends of this spectrum, the spectrum ranging from strict product liability of the company to complete consumer responsibility. On the strict product liability of the company side, we have the cigarette industry where the CEOs of the largest cigarette companies...

    Columbia Pictures, Consumer protection, Ford Motor Company 1989  Words | 6  Pages

  • Liability Paper

    Knowing what Nursing Liabilities and Negligence’s are And Preventing them from Occurring Sandy E. Preza HSM-320–10364 Dr. Wojtecki 09/29/2012 To be able to understand and know what a words definition is describing we must know in nursing, the nursing standard that follows clinical words. In defining Liability one can say it means to be responsible of one’s action when committing to patient care. Nursing Liability standards puts every nurse to be an advocate of each patient they encounter...

    Insurance, Law, Medical malpractice 1639  Words | 5  Pages

  • tortious liability of the state

    Tortious liability of the state/government for wrong committed by its servants in the exercise of their duty essentially arises from the principle of vicarious liability . Doctrine of vicarious liability The doctrine of vicarious liability generally operates within the law of torts. It has become well-established in English law and historically has been called “Master and Servant liability,” which clearly indicates the circumstances in which the doctrine becomes applicable in tort law. The...

    Common law, Contract, Employment 623  Words | 2  Pages

  • Current Liabilities

    Accounting for Current Liabilities There are different kinds of current liabilities that are listed on the Liabilities section of the Balance Sheet they can include the following just to name a few, Accounts Payable, Notes Payable, Interest Payable, Unearned Revenue. In the case of a business that is considered to be a bigger business they are most likely to have many more current liabilities than a smaller business. The amounts of most liabilities are known. Current liabilities are those debts that...

    Accounts payable, Accounts receivable, Asset 1252  Words | 4  Pages

  • Administrative Liability

    cases, the Court found that the public officials – subject of the administrative cases – resigned, either to prevent the continuation of a case already filed or to pre-empt the imminent filing of one. Here, neither situation obtains. The Ombudsman’s general assertion that Andutan pre-empted the filing of a case against him by resigning, since he “knew for certain that the investigative and disciplinary arms of the State would eventually reach him” is unfounded. First, Andutan’s resignation was neither...

    Resignation, Termination of employment 993  Words | 3  Pages

  • Business Entities and Liabilities Repaired

     BUS 670 Legal Environment of Business Business Entities & Liabilities Instructor Leah Westerman May 19, 2014 Businesses Entities and Liabilities “A business entity is an organization established as a separate existence for the purposes of taxes (BusinessDictionary.com, n.d.).” Some of the most common known business entities are; sole proprietorships, general partnerships, limited partnerships, corporations, and limited liability companies. Each business entity has its advantages and disadvantages...

    Business law, Corporation, Legal entities 1508  Words | 8  Pages

  • Liability Case

    Robert R. Bily sued Arthur Young, claiming that the accounting firm failed to conduct its audit in conformity with GAAS. The investor further claimed that as a result of Arthur Young's negligence, the company's financial statements understated liabilities and losses for 1982. The plaintiff alleged fraud, negligent misrepresentation, and professional negligence. The outcome of this case is very significant for the audit profession. The jury exonerated Arthur Young with respect to the allegations...

    Audit, Auditing, Auditor's report 870  Words | 3  Pages

  • Liability Exposure in Business

    Liability Exposure in Business Joshua Houghton Ashford University BUS670 Legal Environment Professor Janet Fiorentino February 17th, 2013 Liability Exposure in Business Creation of a business of any type has to fall under a particular organizational form. There are many elements to starting a business a future proprietor should consider, such as degree of forms and applications that need to be filed, state and federal, legal liabilities, level of difficulty in the formation of a business...

    Business law, Corporation, Legal entities 696  Words | 3  Pages

  • Professional and Design Liability

    Professional and Design Liability BE0892 Practice Specialisation Professional Liability Liability for injury, including bodily or personal injury or death, and property damage arising out of the negligent act or omission of a professional, ie, pharmacist, physician, attorney, architect, engineer, in performance of their professional activities. How can liability arise? Contract Tort Statute and regulations e.g. Supply of Goods and Services Act, Building Regs. Express terms Implied terms ...

    Architect, Contract, Duty of care 1618  Words | 7  Pages

  • Liabilities of a Director

    LIABILITIES OF THE DIRECTORS By: Course: Instructor: University, City, State: Date: LIABILITIES OF THE DIRECTORS A company is usually established by individuals or Directors (officers included) in this case so as to run it in appropriate manner in order to make maximum profits. For this to happen, it is for the company (Pandora Diamonds and Gems Pty Ltd in our case) to enter or make contracts with outsiders like Kaplan Bank Ltd and Space Solutions Pty...

    Board of directors, Business law, Conflict of interest 1483  Words | 5  Pages

  • Police Pursuit Liability

    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...

    Car chase, Crime, Driving 1085  Words | 4  Pages

  • Comparing the Contrasting

    Comparing the Contrasting Written two centuries apart, “Young Goodman Brown” by Nathaniel Hawthorne and “Where Are You Going; Where Have You Been” by Joyce Carol Oates are two seemingly different stories. However, if looked at closely, several elements can be tied together. Each story has a similar point of view, but the story is told from two different perspectives. Several themes are unique to the stories, but deep within similarities can be found. The authors conclude their stories in two different...

    Allegory, Goodman, Joyce Carol Oates 1622  Words | 4  Pages

  • Contract Liability

    Contract Liability Contract Liability Findings Software developer, Span Systems and a German Bank, Citizen-Schwarz AG (C-S) decided to collaborate in a contract to fulfill a project. The project is one-year long and is worth $6 million. Span Systems experienced late deliverables and quality issues, which affected the project’s timeframe. Span Systems and C-S have decided to re-negotiate the contract because the requested changes affected the project’s scope. Kevin Grant, the project...

    Breach of contract, Contract, Contract law 1651  Words | 7  Pages

  • Comparison Between the Limited Liability Company and the Limited Partnership

    Comparison between The Limited liability Company And The Limited Partnership The Limited Liability Company Definition A limited liability company (LLC) is a flexible form of enterprise that blends elements of partnership and corporate structures. It is a legal form of company that provides limited liability to its owners in the vast majority of United States jurisdictions. LLCs do not need to be organized for profit. Often incorrectly called a "limited liability corporation" (instead of company)...

    Corporation, Limited liability, Limited liability company 1147  Words | 4  Pages

  • Managing Current Liabilities

    Running head: MANAGING CURRENT LIABILITIES Managing Current Liabilities: The Great Balancing Act 06/26/2011 One of the most crucial steps in running a major corporation is ensuring that the balance sheet truly reflects the viability of the company. If investors feel that a firm holds too much debt reflecting in poor financial ratios, their stock price may become depressed resulting in angry shareholders. Therefore, why do companies engage in leveraging activities and worry about contingencies...

    Balance sheet, Bond, Creditor 2577  Words | 7  Pages

  • Product Liability

    Products Liability Research Paper By Bobby Brown Sunbeam is an American made brand that has produced various household appliances since 1910. Their products have included the Mixmaster mixer, the Sunbeam waffle iron, Coffeemaster, and an automatic toaster. In 1928, the company's head designer, Swedish immigrant Ivar Jeppsson, invented the Mixmaster mixer. Introduced to the public in 1930, it was the first mechanical mixer with two detachable beaters whose blades interlocked. Barbara Thompson...

    Birdsongs of the Mesozoic, Finger, Manufacturing 881  Words | 3  Pages

  • Limited Liability Partenership

    of Limited Liability Partnership. Its purpose was to solve the conflict | |between the continually expanding professional service organizations and unlimited joint liability. In 2006, newly revised the | |"Law of the People’s Republic of China on Enterprise Partnership" referenced this system, referred to as "special general | |partnership". This new organization blocked the unlimited joint liability among partners, partners protected by limited | |liability. Because of...

    Corporation, Limited company, Limited liability company 716  Words | 3  Pages

  • Nursing Liability

    Nursing Liability The American Nurse Association provides guidelines and policies for standards of care and scope of practice; they are listed in the Nurse Practice act. While hospital policies may vary from facility to facility it is the Nurse Practice Act that guides and dictates the standards by which nurse perform their duties and are held liable. Nurse have the legal duty of adhering to the standards of care whenever they are taking care of patients, when they fail to perform to these standard...

    Codeine, Heroin, Hospital 1078  Words | 3  Pages

  • Limited Liability Corporation and Partnership

    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...

    Corporation, Legal entities, Limited company 900  Words | 3  Pages

  • Professional Liability

    Professional Liability Have you ever wondered if the doctor’s office you visit is keeping your information secure? Are you receiving adequate healthcare from healthcare professionals? Have you ever questioned if you received the right treatment for your procedure? Let’s look at the factors that play into negligence in the working environment for medical professionals. Over the years, negligence has been a vast problem or issue for general hospitals, private practices, outpatient facilities, clinics...

    Health care, Health care provider, Healthcare 1086  Words | 4  Pages

  • A Limited Liability Company

    iA Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation. Owners of an LLC are called members. Since most states do not restrict ownership, members may include individuals, corporations, other LLCs and foreign entities...

    Business, Corporate tax, Corporation 1797  Words | 5  Pages

  • Comparing IFRS to GAAP

     Comparing IFRS to GAAP Essay Felicia Williams ACC/291 10/13/2014 Brian Friedel Comparing IFRS to GAAP Essay In the Accounting industry, there are various principles and guidelines by which financial accountants, analysts, and organizations need to abide by. The International Accounting Standards Board (IASB) issues standards (IFRS) that have been adopted by the United States and several countries outside of the U.S. (Kimmel, Weygandt & Kieso, 2010). The IFRS along with Generally Accepted Accounting...

    Asset, Balance sheet, Depreciation 889  Words | 6  Pages

  • Liability Risks

    Liability risk is defined as risk to a company arising from the possibility of liability for damages resulting from the purchase, ownership, or use of a good or service offered by that company. Liability risk can be identified and mitigated through careful product design and testing, but may also be inherent in the nature of the product to some extent, as in the case of automobiles or pharmaceutical supplies. There are several different types of liability risks, including general liability risks...

    Derivative, Forward contract, Futures contract 569  Words | 2  Pages

  • Teacher Liability

    Teacher Liability University of Phoenix AED/201, Week 5 Erin Witt February 5, 2012 Your Results for "Classroom Management " | Print this page | Book's Title: | Introduction to Teaching: Becoming a Professional | Book's Author: | Kauchak | Location on Site: | Home > School Law: Ethical and Legal Influences > Reflect on This > Classroom Management | Date/Time Submitted: | February 6, 2012 at 4:05 AM (UTC/GMT) | | Summary of Results | All 3 questions in this activity...

    Classroom management, E-mail, Education 458  Words | 3  Pages

  • Sport Management Liability and Negligence

    1. Importance of Donoghue v Stevenson Case The case established 3 things The case established negligence as a wrongful act for which there was a legal liability. The notion of duty of care was formed which if infringed would result in damage. The neighbour principle was established by Lord Akins namely that your neighbour is anyone who may be affected by your acts or omissions. Main points of Case (The details of this were) Mrs Donoghue drank some ginger beer in which she found the remains...

    Donoghue v Stevenson, Duty of care, Reasonable person 1233  Words | 4  Pages

  • Auditor Liability in Canada

    Auditor Liability in Canada A & B Is it reasonable for a potential investor or existing shareholder to rely on audited financial statements that a corporation makes available for public consumption? Should an investor be able to sue a corporation's auditor if audited financial statements materially misrepresent the financial status of the company audited? a. Should a potential investor only be able to sue the corporation? b. Should there be any limit on the auditor's liability? Negligent...

    Audit, Auditing, External auditor 735  Words | 3  Pages

  • Civil Liability and Private Police

    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...

    Constable, Criminal justice, Law 1360  Words | 4  Pages

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