...Contents 1 Introduction 2 2 Describe the nature of general tortuous liability comparing and contrasting to contractual liability (3a) 3 3 Explain the liability applicable to an occupier of premise (3b) 5 4 Explain the liability applicable to the staff and discuss the nature of employer liability with reference to vicarious liability and health and safety implications of his employees (3c) 7 5 Distinguish strict liability from general tortuous liability with reference to Prime Computers (3 d) 10 6 Explain and apply the various elements of the tort of negligence and analyse the practical applications of breach of duty and remoteness in the given situation (4 a, b) 11 7 Conclusion 15 8 Reference 16 Introduction As a legal executive in a firm of solicitors, some clients have approached and seeking advice on several claims and legal disputes, which have recently arisen to them. I am required to write a report for the following contents: 1. General tortuous liability in comparison to contractual liability. 2. Vicarious liability and health and safety issues. 3. Strict liability in comparison with general tortuous liability. 4. The various elements of the tort of negligence. Describe the nature of general tortuous liability comparing and contrasting to contractual liability (3a) A tort is a legal wrong, and the principle is the law gives various rights to person, such as right of a person in...
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...“Business is influenced by the action of government” (Ryan et al., 2003). Governments aim to work in the best interests of society by implementing essential requirements such as laws, business regulations, currency, standards in practices and environmental protection. To businesses, governments are an important source of trade between the public and private sectors, and also act as a formal channel on the global market (Ryan et al., 2003). Vogel (1996) stresses the importance of the interaction between Government and business, and how policies can effect business decisions, and both Vogel (1996) and Ryan et al. (2003) suggest that society is dependent upon both parties to address issues such as quality of productions, medical care and environmental protection. In the global financial crisis, both China and the United States (US) felt the strain of national debt. China is dependent on the US during this unstable economic period as their leading trading partner and importer of Chinese products, and likewise the US depends on these Chinese exports, largely for electrical machinery and power generating equipment (The US-China Business Council, 2009). However, for a business looking to establish itself in either China or the US, the question at hand is which country would be the most stable and economically beneficial environment for the business. This paper will provide an evidence based answer, after identifying each of the political regimes for China and the United States, and...
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... | |Working Capital = Total Current Assets - Total Current Liabilities | |Bankers look at Net Working Capital over time to determine a company's ability to weather financial crises. Loans are often tied to | |minimum working capital requirements. | |Accounting Ratios and its utility | |A relationship between various accounting figures, which are connected with each other, expressed in mathematical terms, is called | |accounting ratios. | |According to Kennedy and Macmillan, "The relationship of one item to another expressed in simple mathematical form is known as ratio." | |Robert Anthony defines a ratio as – "simply one number expressed in terms of another." | |Accounting ratios are very useful as they briefly summarise the result of detailed and complicated computations. Absolute figures are | |useful but they do not convey much meaning. In terms of...
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...political philosophy. The figure of the reasonable person is central both to the law of negligence—where it serves as the master criterion of justified risk imposition—and to the law of intentional torts—where it helps to define the contours of permissible self-defense, the sensibility by which the offensiveness of contact in battery is measured, and the content of the consent given in connection with matters as diverse as The concept of contact sports and medical operations.1 reasonableness figures prominently in strict liability as well. The intentional infliction of unreasonable harm triggers liability for damages in the law of nuisance, and strict liability in general can be fruitfully understood as a form of liability applicable when the conduct which leads to accidental injury is reasonable, but the failure to make reparation for the harm done is unreasonable.2 Principles of fairness figure more prominently in the judicial rhetoric of strict products liability than economic ideas of efficient precaution and efficient insurance do.3 * William T. Dalessi Professor of Law, USC Law School. For instruction and advice, I am grateful to Ken Abraham, Scott Altman, Charles Fried, Richard Fallon, Louis Kaplow, Scott Michelman, Lewis Sargentich, Arthur Ripstein, and Ben Zipursky; to the participants at the conference; and to the participants at a faculty workshop at Harvard Law School. Special thanks are owed to Jim Fleming for organizing the conference and to Ben Zipursky for organizing...
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...a new design which would decrease the possibility of the Ford Pinto from exploding, the company chose not to implement the design, which would have cost $11 per car, even though it had done an analysis showing that the new design would result in 180 less deaths. The company defended itself on the grounds that it used the accepted risk/benefit analysis to determine if the monetary costs of making the change were greater than the societal benefit. Based on the numbers Ford used, the cost would have been $137 million versus the $49.5 million price tag put on the deaths, injuries, and car damages, and thus Ford felt justified not implementing the design change. This risk/benefit analysis was created out of the development of product liability, culminating at Judge Learned Hand's BPL formula, where if the expected harm exceeded the cost to take the precaution, then the company must take the precaution, whereas if the cost...
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...Running Head: ASSIGNMENT HR Policies and Practices [Name of Writer] [Name of Institution] HR Policies and Practices Introduction Managers in the twenty-first century are being challenged to operate in a complex, interdependent, and dynamic global environment. Due to globalization, the international dimension of management has become a major challenge to countries, institutions and people. International management is becoming more important within the academic setting. International management is a process of developing strategies, designing and operating systems, and working with people around the world to ensure sustained competitive advantage. This essay identifies the challenges of operating in different national cultures for international managers by using Hofstede’s theory. In addition, the essay explains international skills and knowledge’s required by managers to be successful in different countries (Brewster 2001 .Pp. 99-119). Discussion Human resource management is in the selection of policy and techniques related to human resource management agency (Adler 1997 pp.39-59). Taken together, these techniques and preferences are messages to employees, managers and interested persons abroad about the value of the agency placed on human resources (Mathis 2000 Pp. 66-76). Unfortunately, international managers have had to adopt sensible policies in the field of organization for fixing the responsibility and cost control. First, employers...
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...horizontal analysis, which compares two or more years of financial data in both dollar and percentage form; vertical analysis, where each category of accounts on the balance sheet is shown as a percentage of the total account; and ratio analysis, which calculates statistical relationships between data. Objectives of Financial Statement Analysis The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions (IASB Framework). The major objectives of financial statement analysis are as follows 1. Assessment of Past Performance:Past performance is a good indicator of future performance. Investors or creditors are interested in the trend of past sales, cost of goods sold, operating expenses, net income, cash flows and return on investment. These trends offer a means for judging management's past performance and are possible indicators of future performance. 2. Assessment of current position:Financial statement analysis shows the current position of the firm in terms of the types of assets owned by a business firm and the different liabilities due against the enterprise. 3. Prediction of profitability and growth prospects:Financial statement analysis helps in assessing and predicting the...
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...ASSESSMENT COVER SHEET DECEMBER SUBMISSION |Unit Number and Title |Unit 5 Aspects of Contract and Negligence – Level 4 | |Assessment Title |Aspects of Contract & Negligence | |Course Title |HND Business | |Assessment Code |HNDBUSMandatoryunit 5/HNDBUSUnit5/Oct2013 | |Hand Out Date |11th October 2103 |Hand In Date |21st December 2013 | |Lecturer(s) |John Owen |Internal Verifier |Jonathan Cartmell | | |Michael Evans | | | | |Anuja Prashar | | | |Sources of information |Course notes. ...
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...Case 1: Specific Performance Remedy Denied on Equity Standard Campbell Soup Co. v. Wentz et. al. UNITED STATES COURT OF APPEALS THIRD CIRCUIT 172 F.2d 80 (1949) OPINION BY: GOODRICH The transactions which raise the issues may be briefly summarized. On June 21, 1947, Campbell Soup Company (Campbell), a New Jersey corporation, entered into a written contract with George B. Wentz and Harry T. Wentz, who are Pennsylvania farmers, for delivery by the Wentzes to Campbell of all the Chantenay red cored carrots to be grown on fifteen acres of the Wentz farm during the 1947 season . . . The contract provides . . . for delivery of the carrots at the Campbell plant in Camden, New Jersey. The prices specified in the contract ranged from $23 to $30 per ton according to the time of delivery. The contract price for January 1948 was $30 a ton. The Wentzes harvested approximately 100 tons of carrots from the fifteen acres covered by the contract. Early in January 1948, they told a Campbell representative that they would not deliver their carrots at the contract price. The market price at that time was at least $90 per ton, and Chantenay red cored carrots were virtually unobtainable. The Wentzes then sold approximately 62 tons of their carrots to . . . Lojeski, a neighboring farmer. Lojeski resold about 58 tons on the open market, approximately half to Campbell and the balance to other purchasers. On January 9, 1948, Campbell, suspecting that Lojeski was selling it "contract carrots," refused to...
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...Definitions It seems fitting to begin with a more formal definition of accounting: Accounting is a set of concepts and techniques that are used to measure and report financial information about an economic unit. The economic unit is generally considered to be a separate enterprise. The information is reported to a variety of different types of interested parties. These include business managers, owners, creditors, governmental units, financial analysts, and even employees. In one way or another, these users of accounting information tend to be concerned about their own interests in the entity. Business managers need accounting information to make sound leadership decisions. Investors hope for profits that may eventually lead to distributions from the business (e.g., “dividends”). Creditors are always concerned about the entity’s ability to repay its obligations. Governmental units need information to tax and regulate. Analysts use accounting data to form opinions on which they base investment recommendations. Employees want to work for successful companies to further their individual careers, and they often have bonuses or options tied to enterprise performance. Accounting information about specific entities helps satisfy the needs of all these interested parties. The diversity of interested parties leads to a logical division in the discipline of accounting: financial accounting and managerial accounting. Financial accounting is concerned with external reporting to parties...
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...This paper tries to explain how income tax allocation works by comparing of accelerated tax depreciation versus straight-line for financial reporting. The paper will focus on the change from SFAS No. 109 from SFAS No. 96. The discounting of deferred tax liabilities is also mentioned and analyzed. Because of the timing difference between time of the tax return and the time of the publication of the financial statement, different taxable results incur from the IRS tax basis and the financial reporting basis. Although the different exist, the difference will be smooth out in the cumulated ways for years and years. Income tax expense and income tax liability are always differ from each other in figures, but with the difference deferred in next year. 1.1 History In 1967, APB Opinion No.11 replaced ARBs 43 and 44 under the requirement of comprehensive allocation. If there is any difference, comprehensive allocation requires rigid and absolute allocation, while partial allocation is flexible and requires allocation when a perceived real payback of accelerated tax benefits incurs. In 1987, SFAS No.96 took place of APB Opinion No.11 with so much conservatism in recognizing deferred tax. SFAS No. 96, using asset-liability approach, differs from APB Opinion No. 11 with...
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...1. Introduction Introduction: A Bank is a financial institution and a financial intermediaries that accepts deposit and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses. Due to their influence within a financial system and an economy, banks are generally highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accord. Banking Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy. Origin of the word “bank” The word bank was borrowed in Middle English from Middle French banque, from Old Italian banca, from Old High German banc, bank "bench, counter". Benches...
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...Solutions Manual to accompany ACCOUNTING: an introduction Compiled by D. Harvey and M. Jenner Chapter 1 - Introduction to Accounting and Finance Suggested Solutions Discussion Questions 1.1 The AASB Framework suggests the report users need to be both competent and diligent. Therefore, it is not assumed that financial reports will be readily read and understood by the lay readers, but rather that the readers will be proficient in accounting and finance (aptitude and application). 1.2 Basically comprised of: a) Transactions – buy; sell; borrow; lend b) Transformations – convert raw materials via labour and overhead to finished goods c) Other economic events – natural disasters (flood; fire); economic events (recession; inflation); regulation (exchange rate restrictions; import restrictions; banned substances). This relates to usefully repacking the financial data: a) Classify b) Summarise c) Record Financial reports a) Statement of Comprehensive Income (Financial Performance) b) Statement of Cash Flows c) Statement of Financial Position 1.3 Planning is concerned with providing direction for future activity. Control can be defined as compelling events to conform to the plan. 1.4 The organisations’ mission represents its...
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...BUSI 2301 Case Comment #1 DIRECTIONS: You are to write a 1-2 page analysis of the following case. The paper should be typed, and at least 12 point font. Thoroughly discuss the premise of the case, the procedure as to what happened, and the facts involved. Make correlations between what you’ve learned in the class and relate it to specific legal theories. Demonstrate these by walking through the elements needed to prove the particular Cause of Action. Rules for correct grammar, syntax, spelling, capitalization, and punctuation must be observed. Papers must be the sole work of the student. Give yourself a break as reading law cases is new & different than other types of content. You may need to read the case 3 times to get used to this type of writing. Work should be submitted in MS Word, and name your file in this manner: Your 1st Initial, Last Name-Case# Plaintiff Name. Ex.:JSheetz_Case1_Kuehn. If you need assistance with your writing, you may refer to North Lake College’s Writing Center. Located in Room A309, the Writing Center is open 8:00 AM to 8:00 PM Monday through Thursday and 8:00 AM to 2:00 PM on Friday. Saturday hours are 9:00 AM to 1:00 PM. Students can also call 972-273-3089, or email nlcwritingcenter@dcccd.edu. Finally, another resource for students is to The Elements of Style, by Strunk & White. Points to consider in your analysis ▪ The general facts (explain briefly why the parties are in dispute)? ▪ How does the case relate to the reading material...
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...RIGA, 2008 2 SUMMARY In Part I the general provisions of space treaties and principles of public international law briefly summarized. An overview of “appropriate state”, “launching state” terms and international responsibility and liability issues also discussed there. Part I is supposed to introduce current international legal tools available for the regulation of space activities. It explains what is international space law, why it is important and how does it work. Moreover, certain aspects of legal treatment of governmental and non-governmental entities are comprehensively discussed. The analogy between international space law and maritime law was also reiterated. Part I particularly examines each of three main space treaties and the problematic points arising from their interpretation. The enforcement mechanism is also analyzed. It was the idea to pick up an issue and then to analyze it using the common sense and legal logic with the view to resolve the ambiguity in terminology arising thereof and come to a reasonable solution, if any. The European Community`s endeavors in space related activities as well as its first organizations created are discussed in Part II. The special emphasize was pointed out on collaboration between the European Union (“EU”) and the European Space Agency (“ESA”). Part II provides analyze of space...
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