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
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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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An accomplice is a person who helps another to commit a crime‚ it is also known as “accessories”. These secondary parties participate in the commission of an offence and they will be liable if it was proved that they aided‚ abetted‚ counselled‚ or prosecuted. For example‚ A encourages D to hit V by a car and kill him‚ B brings the car to D‚ and C clears the road making sure no one is watching. If an accused was charged as an accessory they would be charged either with aiding‚ abetting‚ counseling
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Vicarious Liability Monday‚ January 12‚ 2015 10:00 PM Vicarious Liability is where one person is held liable for the torts of another. This is usually where an employer is liable for the torts of employee. For the employer to be liable: i) A tort‚ (such as negligence‚ battery or even in breach of statutory duty (Majrowski v Guys and St Thomas’s NHS Trust 2007)) ii) committed by his employee‚ iii) during the course of employment. • Original defendant (employee) must be liable in tort first Prepared
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in the business of receiving deposits (liabilities) and to issue debt securities on one hand and create or invest in assets on the other hand during these transactions banks incur costs for their liabilities and earn income from their assets. Asset – liability management is therefore very critical for the sound management of the finances of any organisation that invests to meet its future cash flow needs and capital requirements. An efficient asset-liability management requires maximising the bank’s
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Limited Liability Partnership Limited Liability Partnership entities‚ the world wide recognized form of business organization has been introduced in India by way of Limited Liability Partnership Act‚ 2008. A There are no sources in the current document.Limited Liability Partnership‚ popularly known as LLP combines the advantages of both the Company and Partnership into a single form of organization. In an LLP one partner is not responsible or liable for another partner ’s misconduct or negligence;
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Fashion accessory From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search Burberry-brand handbag A fashion accessory is an item which is used to contribute‚ in a secondary manner‚ to the wearer’s outfit. The term came into use in the 19th century. Accessories are often used to complete an outfit and are chosen to specifically complement the wearer’s look.[1] Fashion accessories are categorized into two areas: those that are carried and those that are worn. Carried accessories include
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|PAGE NO. | |1 |Introduction |2-4 | |2 |Overview of Limited Liability Partnership|4-10 | | |Act‚ 2008 | | |3 |Tax implication
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Strict Liability Amanda Self BA265 Business Law II Abstract While shopping at Carl’s Hardware Store he was injured by a nail gun that Dan‚ an employee was using. When he noticed that the nail gun was assembled improperly he decided to sue the manufacture of the product‚ Eagle Tools Inc. Under strict liability‚ the manufacture has a liability to make sure that all the products that they sell are in working and safe conditions. While this product fits the requirements that strict liability covers
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Strict Liability for Defective Products - Part X of the CPA 1999 Section 68(1) provides that where any damage is caused wholly or partly by a defect product‚ the following persons shall be liable for the damage. The plaintiff only has to prove damage or defect in the product. Part X of CPA does not cover every product. Section 66 provides types of product such as goods and component parts and raw materials. Section 3 provides definition of goods. Only the goods which are purchased for private and
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