Legal studies Introduction Negligence is a failure to take reasonable care to avoid causing injury or loss to another person (Law Hand Book‚ 2013). Negligence can be used when a party has experienced loss or damage from the wrongful actions or omission to act of another individual. This principal can be found in The Civil Liability Act 2003(Qld). The following report will examine the tort of negligence While analyzing the case study of Mr. Jones vs Blue Board Production and will provide an evaluation
Premium Law Negligence Tort law
ABSTRACT This essay deals with the law of torts‚ and more specifically the tort of negligence. It discusses cases and judgements related to it. It concludes by looking at the elements of negligence and their meanings. THE LAW OF TORTS A tort is basically a civil wrong. A civil wrong is an act‚ intentional or otherwise‚ the consequences of which include‚ but are not limited to damage to life or property‚ injury to a person‚ emotional or mental trauma‚
Premium Common law Tort Contract
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
Premium Contract Meeting of the minds
Estimated liabilities are a known obligation that is of an uncertain amount but that can be reasonable estimated. Common examples are employee benefits such as pensions‚ heath care and vacation pay‚ and warranties offered by a seller (Fundamental Accounting Principles‚ Chapter 11‚ Pg 437). When a firm sells products or renders services with a warranty‚ the firms has an obligation towards the customer when the warranty is honored. The warranty liability is an estimate of the obligations. Hence‚ a
Premium Estimation Approximation Holiday
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
Premium Generally Accepted Accounting Principles Balance sheet
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
Premium Management Employment Organization
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
Premium Balance sheet Generally Accepted Accounting Principles Asset
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
Premium Law Tort Tort law
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
Premium Balance sheet Debt Insurance
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
Premium Management Strategic management Organization