This paper will discuss the hypothetical scenario and case problem 4.4 and its implications on unintentional tort or negligence. It can be found on page 124 of our textbook Business Law Today: Essentials‚ written by Roger LeRoy Miller and Gaylord A. Jentz. As read in the case‚ “Kim went to Ling ’s Market to pick up a few items for dinner. It was a rainy‚ windy day‚ and the wind had blown water through the door of Ling ’s Market each time the door opened. As Kim entered through the door‚ she slipped
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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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------------------------------------------------- The Tort Claim the neighbor has is negligence and product liability. The possible defendants are Mary‚ the manufacturer‚ the distributer‚ the wholesaler‚ and the retailer. The neighbor would sue Mary for negligence because Mary should have never taken off the guard. And the neighbor would sue the manufacturer‚ the distributer‚ the wholesaler‚ and the retailer for product liability because during anytime during the exchange of product anyone could have put
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Contributory negligence vs. Comparative negligence Megan Kelly Colorado Technical University Online Abstract Law and medical law can sometimes be confusing. Some of the terms seem to mean the same thing or even sound the same. Contributory negligence and comparative negligence are two legal terms that have almost the same definition. This report will explain the difference between the 2 negligence as well as an example
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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
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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
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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
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then only will the law allow compensation. The company will be against giving compensation as they can protect themselves by saying that Alf removed the guard “contrary to instructions”. In this case Alf will clearly be affected by contributory negligence as he had removed the guard to make the job quicker causing him injury. Therefore it will be very difficult for Alf to receive compensation as it was seen in the case Close v Steel Co of Wales where Mr Close didn’t receive any compensation for his
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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
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financial accounting standards statement sets up the foundation for reporting and accounting for loss contingencies. A contingent liability is a potential liability that might‚ or might not happen in the future. For example this could be a lawsuit‚ a product warranty‚ a possible tax assessment‚ a government investigation‚ or even an environmental contamination. A contingent liability and the associated loss are recorded as a journal entry only if the contingency meets these two criteria; A.) the contingency
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