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 Law of
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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
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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
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Vicarious Liability‚ what is it? Vicarious commitment insinuates a condition where a business is considered responsible for the exercises or rejections of their specialists. In a workplace situation‚ a business can be held at danger for the exhibitions or prohibitions of its employee’s‚ whether it can be shown that the offenses happened over the range of their occupation. A case when a business can be held vicariously at risk cases can join exhibits of tormenting behavior‚ bullying‚ mercilessness
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Liability for Omissions The law has historically been reluctant to impose a general liability for omissions as opposed to positive acts. This means that there is no general duty of care in tort to act in order to prevent harm occurring to another. In Smith v Littlewoods Organisation‚ Lord Goff stated clearly that “the common law does not impose liability for what are called pure omissions”. Similarly‚ in Yuen Kun Yeu v A-G of Hong Kong‚ Lord Keith stated that people can ignore their moral responsibilities
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ASSETS & LIABILITIES Asset is an item of value owned by the company. Assets can be tangible i.e. those which have some physical existence or can be intangible i.e. which do not exist in physical form but can be held in the form of contracts or rights. Assets are usually grouped in order of liquidity (ease of conversion to cash) on the balance sheet. Cash is therefore the most liquid of all assets. Assets can be classified as: 1.) Current Assets – Those assets that are expected to be converted to
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Criminal Liability Essay Criminal liabilities are conditions of being actually or potentially subject to a legal obligation. Liability means legal responsibility for one’s acts or omission‚ also when acts which harms society‚ and which are prosecuted by the government. Sometimes certain negligence can lead to criminal liability. Liability needs to be distinguished from the following concepts: * culpability (purposely‚ knowingly‚ recklessly‚ negligently) - infers intent * capacity
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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
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Contingent liabilities are possible future liabilities that will only become certain on the occurrence of some future events. A contingent liability is less certain than a provision‚ the latter is expected to recognize; however‚ a contingent liability might occur. An entity shall not recognize a contingent liability; nevertheless‚ the company should disclose it‚ as required by paragraph 86‚ unless the possibility of an outflow of resources embodying economic benefits is remote. Where an entity
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Draft Limited Liability‚ Rights of Control and the Problem of Corporate Irresponsibility Paddy Ireland Abstract There is has long been a tendency to see the corporate legal form as presently constituted as economically determined‚ as the more or less inevitable product of the demands of advanced technology and economic efficiency. Through an examination of its historical emergence‚ focusing in particular on the introduction of general limited liability and the development of the modern
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