3. Principles on which vicarious liability is based The doctrine of vicarious liability is based on principles which can be summed up in the following two maxims : (a) Qui facit per alium facit per se :- The maxim means‚ ‘he who acts through another is deemed in deemed in law as doing it himself’. The master’s responsibility for the servant’s act had also its origins in this principle. The reasoning is that a person who puts another in his place to do a class of acts in his absence‚ necessarily
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Question 1 Mary v Peter Issue Given that Mary was injured by Peters’ act‚ is he solely liable for the accident? Law * In this case‚ we have to look at the Civil Liability Act 2002 (NSW) to determine who was negligent and in specific‚ we use s 5B(1)‚ s 5B(2) and s 5R of the Civil Liability Act 2002 (NSW); s 5B(1) for the reasonable foreseeability test‚ s 5B(2) for determining if the standard of reasonable care has been breached and s 5R for contributory negligence. * Where both the
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Course : Bank Management & Financial Services Chapter 4 : Managing and pricing non-deposit liabilities Questions & Problems 1. Compare and contrast Fed funds transactions with RPs? Repurchase agreements (RPs) are less popular than Fed funds and more complex. Both fed funds and Rps are instruments available for short term borrowing. However‚ RP agreements are collateralized loans and thus‚ the lender is not exposed to credit risk as they are with Federal funds transactions. Most RPs
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CHAPTER 4 Legal Liability Of CPAs Review Questions 4-1 There are several reasons why the potential legal liability of CPAs for professional "malpractice" exceeds that of physicians and other professionals. One reason is the vast number of people who may sustain damages. If a physician or attorney commits a serious error‚ the number of injured parties generally is limited to one individual patient or client. When a CPA’s report is in error‚ literally millions of investors
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Garden Club Guests and Liability Nicola Grover Professor‚ Theresa Dike November 27‚ 2011 LEG 300 The difference between an invitee and a licensee is the level of duty of care owed to each by the landowner. A person who enters the premises of a landowner by invitation‚ as part of the general public for a lawful purpose‚ would be considered an invitee. The landowner must provide an invitee reasonable care to keep the invitee safe from harm. This means the landowner must be aware of impending
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world-class business. Which student is correct? A. Both B. Student A only C. Neither D. Student B only 3. Which of the following represents the basic accounting equation? A. Owners ’ Equity − Liabilities = Assets B. Liabilities = Assets + Owners ’ Equity C. Assets = Liabilities + Owners ’ Equity D. Assets + Liabilities = Owners ’ Equity 4. Nearly a week before Hurricane Katrina reached New Orleans‚ Wal-Mart began moving trucks and supplies into position‚ as specified in the company ’s ________ plan.
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India’s large population - asset or liability? In his theory of population‚ Malthus stressed the need of keeping population within limits to the point he called Optimum. At this point in time‚ India has a population of about 1.27 billion people‚ and it supports upto 17% of the entire world’s population. Of these 1.27 billion people‚ 50% are below the age of 25‚ and 65% are below the age of 35. This means that the major part on India’s population are students and young workers. There are more
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Liability Alex Washington ACC 205 Principles of Accounting I Instructor: James Rodisch July 28‚ 2013 1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: * Social Security taxes: 6% on the first $55‚000 earned per employee * Medicare taxes: 1.5% on the first $130‚000 earned per employee * Federal income taxes withheld from wages: $7‚500 * State income taxes: 5% of gross earnings * Insurance withholdings:
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------------------------------------------------- Mens Rea (Blameworthiness) Introduction Duff = “responsibility is a necessary but not a sufficient condition of liability” An actor is responsible when they are sufficiently blameworthy in causing the harm or committing the wrong = we blame those who have control over their actions (committing a crime is a mental process) * MR is the guilty mind. Note that it is not necessarily a moral/culpable judgment‚ and there can be involuntary MR e.g.
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July 4‚ 2012 BAM530 Business Ethics Unit 3 Question #3: Evaluate the concept of strict liability. Strict liability is the legal responsibility levied on a person or company for certain damages or injury even if they were not at fault. Strict liability can even apply even if the person or company did not physically commit any act to cause the actual injury. Corporations can be held liable for the defects of their product even if they did not know about the problem or harm
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