Reference no: EM132725001
One of the most fundamental issues in business law involves the question of when a company can be held liable for the acts of an individual person, whether this involves a contractual obligation or a personal injury (meaning a tort). Choose one of the scenarios below and explain whether you think the business is liable for the acts under the principles of agency law.
A real estate agent hires a handful of local kids to do the landscaping of homes that he is trying to sell. In addition to the general payment, he reimburses them for the cost of gasoline for lawn mowers and other equipment. While mowing a lawn, one of the kids loses control of a lawn mower and it mows down a neighbor's very expensive collection of lawn gnomes.
In a hurry to get his apartment complex painted, a homeowner hires three people he meets at the local home improvement store to do the work. Since they are not professional painters, he provides all the equipment and paint needed to do the work. While at the apartment complex, one of them breaks into an apartment, assaulting the resident and stealing a wallet.
An entrepreneur decides to open up his own car-for-hire business and creates an app allowing anyone to connect with people who need a ride. The passengers pay the entrepreneur, who in turn pays a percentage to the driver. Other than the app, the entrepreneur has no involvement between the driver and the passenger. One night, a driver who is intoxicated picks up a passenger and then gets into an accident, resulting in the passenger being severely injured.
What is your view on the audit opinion issued
: AUDITOR'S LEGAL LIABILITY - What is your view on the audit opinion issued by Raju based on the information given above? Provide justifications
|
Community property and equitable distribution
: Discuss the concepts of Community Property and Equitable Distribution. How are they alike? How are they different? Is one preferable to the other?
|
What is the highest interest rate
: If the homeowner refinances, the charges will be $3,050. What is the highest interest rate at which it would be beneficial to refinance the mortgage?
|
How much reliance will be placed by the external auditor
: How much reliance will be placed by the external auditor on the work of the audit committee and the internal auditor of TENDER Fiji in order to gather evidence
|
Most fundamental issues in business law
: One of the most fundamental issues in business law involves the question of when a company can be held liable for the acts of an individual person,
|
How much can borrow on thirty-year fixed-rate mortgage
: You can get a mortgage rate of 4.95 percent, and you want your payments to be $1,350 or less. How much can you borrow on a 30-year fixed-rate mortgage?
|
How much is the target total liabilities
: The tax rate is 27.50 percent. If the company's total equity is $2,500,000, how much is the target total liabilities
|
Make the journal entry for big bird ltd to record the work
: Big Bird Ltd owns 61% of Peter Pan Ltd, 49% of Scooby-doo Ltd, Make the journal entry for Big Bird Ltd to record the work paper investment elimination entries
|
Financial investment in the corporation
: The responsibility of the directors of a corporation is to provide a return to shareholders on their financial investment in the corporation;
|