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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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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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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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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Product Liability Research Paper Shericia Bonnett Professor Kapalko LEG 500 – Law and Ethics In the Business Environment 09/09/2012 Consumers use a variety of products on a daily basis to assist them in accomplishing a task or completing a project and they expect the product to be properly designed and safe to use. However‚ in the event that a product is defective and causes injury to the person using it‚ the manufacturer may be liable for the injury and have to compensate the injured
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Seminar 7 Vicarious Liability The problem question deals mainly with the issue of Vicarious Liability and Negligence. In order to advise Jerry one would have to explore the rules of vicarious liability‚ relevant statute law and case law which may apply. Vicarious liability has been defined as the person who commits a wrong must be an employee and not an independent contractor‚ the employee must have committed a tort and the tort must have been in the course of employment. The doctrine of ‘vicarious
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Business Entities‚ Laws‚ and Regulations Paper By: Edmond Akopyan BUS/415 December 15‚ 2010 Instructor: Mark Oertel Starting a business requires some research on licensing‚ state laws and regulations and finally getting things started. It also requires looking into the business entities‚ taking control‚ taxation‚ and of course taking liability issues into consideration. It is important for the business to be able to protect itself. In this paper‚ an extermination business
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August 7‚ 2009 Criminal Law- 2 Essay on Strict Liability Crimes Having no element for Mens Rea‚ consequently permits punishment on those that may be blameless to a crime. With that fact‚ there is definitely a wide range of controversial pro’s and con’s. I personally am unbiased either way regarding this topic‚ for any and all concerns I feel are legitimate. What I will set forth here is unbiased opinion and facts to all pro’s
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Physicians Assistant Research Paper When I was young‚ I had dreamt about becoming an inspiration to those around me. As I have become older‚ I`m beginning to realize that I am truly inspired by those in the medical field. After endless amounts of research‚ I have decided to become a physicians assistant. This job fits my criteria for the career I would like to pursue. The following will show how I plan on becoming a physicians assistant. The first educational program for physician assistants
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FACTS What is Physician-Assisted Suicide? Physician-assisted suicide is the act of a physician prescribing a drug to a patient which drug the patient is able to take on his or her own without the assistance of a medical provider or another person. This drug generally results in unconsciousness within five minutes and death within thirty minutes. Facts about Physician-Assisted Suicide -Physician-Assisted Suicide is not a new phenomenon. Suffering has always been a part of human existence.
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