...liability 7 3.2 Nature of liability in negligence 8 3.3 How a business can be vicariously liable 9 LO4 Principles of liability in negligence in Business Situations 10 4.1 The elements of the tort of negligence and defence in different business situations 10 4.2 The elements of vicarious liability in given business situation 11 References and Bibliography 13 LO1 A valid contract in a Business Context 1.1 The importance of the essential elements required for the formation of a valid contract Everything requires some principles that should be followed to make it a good one. Therefore to make a valid contract there are also some principles to be followed during making it a good one. The basic principles that should be followed by Linda green to make a contract agreement with a potential customer are as follow- Offer and acceptance There must be a lawful offer and a lawful acceptance in response to the offer...
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...industry affected by nature. Consider the airline industry. American Airlines has 80,000 employees, 4 of whom make decisions to cancel flights. One of them is Danny Burgin. When a weather system approaches, Burgin needs to consider a host of factors in deciding which flights to cancel and how to reroute affected passengers. He argues that of two major weather factors, winter snowstorms and summer thunderstorms, snowstorms are easier to handle because they are more predictable. Don't tell that to JetBlue, however. On February 14, 2007, JetBlue was unprepared for a snowstorm that hit the East Coast. Due to the lack of planning, JetBlue held hundreds of passengers on its planes at JFK, in some cases for as long as 10 hours (with bathrooms closed!). To the stranded travelers, JetBlue's tepid offer of a refund was just as outrageous. For a carrier that...
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...| Tax Research | | | Steven King | ACC 620M | July 26, 2011 | | | John R. Lane 1010 Ipsen St. Yorba Linda, CA 90102 Dear Mr. Lane: It is my pleasure to be an accountant to help you calculate your tax return of last year, and thanks for giving this opportunity for me! You asked me to work out your tax return of last year based on your situation and your income, and expenses last year. In my opinion, I think this is a simple case so that we just need to fill the form 1040. In reaching this conclusion, I consulted relevant provisions of the Internal Revenue Code (“IRC”), and applicable Treasury Regulations under the IRC. The facts as I understand them are as follows: you are a single taxpayer, and provided 100% of the support of your cousin. In addition, you want to take advantage of the presidential election campaign check-ff. Your also gave me some relevant information, such as salary, taxable pension, interest income, IRA deduction, and withholding. Since you have already filled out the Schedule A, the itemized deduction can be used directly. Therefore, in your case, we just need to put those numbers into the proper line of the form 1040 simply. First of all, we can check the Presidential Election Campaign on the top right of this form because you want to take the advantage of it. For the income section, we just put $20,000 into line7, which is your salary, $300 into line 8a, which is the taxable interest, and $31,000 into the 16b, which...
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...INTRODUCTION This report focuses on the identification of the aspects of contract and negligence for business. There are agreements and contract in every business in recent than before. Verbal agreements are usually no longer used by the businesses. Written agreement in the form of contract is ore preferable to all. But, the profitability of contract is incomplete if the regulations and aspects are unknown. Well acknowledgement of contract in business provides a legal documentation securing the expectations of the parties involved. Contracts work as a safety tool of the resources. On the contrary, negligence is rising into the cornerstone of our system for compensating people for accidental damage and injuries. This is because it allows the courts to award damages in tort in some circumstances where it is not possible to do so in contract. This report will help learners to understand in and all about the contract formation and negligence of contract in businesses. LEARNING OBJECTIVES TASK 1 Understand the essential elements of a valid contract in a business context TASK 2 Be able to apply the elements of a contract in business situations TASK 3 Understand principles of liability in negligence in business activities TASK 4 Be able to apply the principles of liability in negligence in business situations. TASK 1 LO 1.1 Importance of the essential elements required for the formation of a valid contract Offer and Acceptance: The existence of an offer and an acceptance...
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...Chapter 15 Entities Overview SOLUTIONS MANUAL Discussion Questions 1. [LO 1] What are the more common legal entities used for operating a business? How are these entities treated similarly and differently for state law purposes? Answer: Corporations, limited liability companies (LLCs), general and limited partnerships, and sole proprietorships. These entities differ in terms of the formalities that must be observed to create them, the legal rights and responsibilities conferred on them and their owners, and the tax rules that determine how they and their owners will be taxed. 2. [LO 1] How do business owners create legal entities? Is the process the same for all entities? If not, what are the differences? Answer: The process of creating legal entities differs by entity type. Business owners legally form corporations by filing articles of incorporation in the state of incorporation while business owners create limited liability companies by filing articles of organization in the state of organization. General partnerships may be formed either with or without written partnership agreements, and they typically can be formed without filing documents with the state. However, limited partnerships are usually organized by written agreement and must typically file a certificate of limited partnership to be recognized by the state. 3. [LO 1] What is an operating agreement for an LLC? Are operating agreements required for limited liability companies? If not...
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...never faced charges over any of these allegations. (All of which he has denied) Within this situation, Judy Huth used a Civil Lawsuit: a court based process which she used to hold Cosby liable for his past actions. Along with that Bill Cosby is “-Also facing two other cases, one of which is a defamation case brought by three women who claimed he sexually abused them decades ago.” (“Depositions”) The other a civil case filed by a model whom he allegedly drugged and sexually assaulted. In relation to the defamation case, a federal judge in Massachusetts ruled it could go ahead. Tamara Green, Therese Serignese and Linda Traitz all claim that Mr. Cosby’s representatives damaged their reputations by denying their allegations. Mr. Cosby’s Lawyers had asked the judge to dismiss the case, arguing the remarks were personal opinions protected by the First Amendment and legal declarations made in his defence. In his ruling, rejecting the dismissal of the case, U.S. district court judge Mark Mastroianni allowed the defamation case to move forward. (“Testifies”) Barbara Bowman; an aspiring actress during 1980s, seventeen at the time, when Bill Cosby entered her life, won her trust and then assaulted her. (Bowman) “In one case, I blacked out after having dinner... -when I came to, I was in my panties, a man’s t-shirt, and Cosby was looming over me. I’m certain that he had drugged and raped me. [...] The final incident was in Atlantic City, I was staying in a separate bedroom of Cosby’s hotel...
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...|The importance of public relations as a business function to an organisation | | | | | | | | | Table of contents 1. Introduction.......................................................................................3 2. Executive Summery………………………………………………..4 3. Crisis Management………………………………………………...5 4. Effective Management of information………….…………..…6&7 4. Communication Strategy………………………………..…...…8&9 5. Effective Crisis Management…………………………….………10 6. Public Relations steps…………………………………….………11 7. Product Recall…………………………………………………….12 8. Ikea Questionnaire………………………………………………...13 9. Conclusion…………………………………………………….…..14 10. Bibliography……………………………………………………...15 11. Appendices………………………………………………………...16 Introduction This report aims to investigate that public relations is an important business function to an organization. The research will examine public relations as an essential function of crisis management. The purpose of this report is to investigate that major organizations such as Johnson and Johnson, Ford and Firestone and IKEA, would use the corrective...
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...[pic] Precourse assignment on page 10 – due first night of class Course: BUSN210 Professional Ethics Semester: Summer 2009 Instructor: David LaBeau Campus/Location: Livonia Room Number: 327 Meeting Days and Times: Tuesday, 6:00 / 9:50 pm Course Start Date: July 7, 2009 Last Date to Withdraw: August 7, 2009 Final Assessment Date: August 18, 2009 Instructor Contact Information: Office Location: Room 223 Office Hours: by appointment but I am very flexible with time Phone: 734-943-2858 Fax: 734-943-2848 E-Mail: david.labeau@davenport.edu Instructor Background Information: David is the MBA coordinator at Livonia location for Davenport University. David has a BS degree from Detroit College of Business (now Davenport University), MA from Central Michigan University, and has Ph.D. studies at Wayne State University and North Central University. He has experience in the Under-Graduate and MBA program. In 1990 he was selected Alumnus of the year for Detroit College of Business. Previously, he has represented his employer for assisgnments in Japan, the Netherlands, Germany, and Italy. Through his consulting service, David has developed successful programs in problem resolutions, employee development, team building, leadership dynamics and corporate analysis leading to turn-around activities, and developing learning organization. He has been a featured presenter at seminars and conventions throughout the United States and Canada. ...
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...Bill Cosby; the comedian, famous movie star, and beloved icon, has fallen from grace. Beside his fan base most people now considered Mr. Cosby to be a disgrace and despise him because of recent allegations brought against this famous man. Multiple women have come forward with allegation and stories alleging that Cosby drugged and then raped them. However because of the statute of limitations Bill Cosby cannot be criminally charged, as a result these women have to either settle or find a loophole. (In most cases the accuser files a civil suit) Recently, after ruling against Bill Cosby the California Supreme Court allowed Judy Huth’s civil suit to move forward. Resulting in the first time Mr. Cosby has testified under oath since accusations were made; Judy Huth accused him of forcing her to perform a sexual act at the Playboy Mansion in Los Angeles. At the time Miss Huth was only fifteen the year was 1974. Mr. Cosby testified and said Ms. Huth’s claims are “absolutely false” (“Testifies”). However, according to Huth’s attorneys this suit opens up the possibility of Cosby being deposed under oath. All this time Mr. Cosby has never faced charges over any of...
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...International Convergence Course Project Acct 525 June 22, 2014 Over history, corporations have increased cross-border activity and increased foreign direct investment in various countries. As these international activities have evolved, the concept of having one worldwide set of accounting practice standards has been talked about in various depths and stages along the way. There have been attempts to make international financial reporting more streamlined. This paper is intended to discuss the international financial reporting standards as they relate specifically to the United States convergence of U.S. GAAP to IFRS. The Financial Accounting Standards Board (FASB) is an organization of people who are assigned the task of developing U.S. GAAP (Generally Accepted Accounting Principles). The SEC (Securities Exchange Commission) recognizes U.S. GAAP as the rulebook for public companies in the United States to prepare financial statements. Similarly, the International Accounting Standards Board (IASB) is an organization assigned the task of developing IFRS (International Financial Reporting Standards). With the realization that there would be great benefit for the United States to develop accounting practices more accepted internationally, the IASB and FASB joined together in Norwalk, Connecticut in 2002 to discuss the common goals for international reporting. This meeting resulted in “The Norwalk Agreement” which produced a Memorandum of Understanding that says...
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...chapter 2 Exemptions and Dependents “D o I get a refund?” Whether you are preparing someone else’s tax return or your own, this may be the most important question that comes to mind. The U.S. tax system offers many adjustments, deductions, and credits that help lower the amount of income tax a taxpayer will pay. In this chapter, we discuss how a taxpayer’s taxable income may be reduced based on the number of exemptions included on their tax return. There are two types of exemptions: Personal Dependent Both are worth the same amount, but different rules apply to each. A Additional information can be found in IRS c Publication 17, Your P Federal Income Tax, F Fed Part One, The Income Tax Return. objectives By the end of this chapter, you will be able to Identify the personal exemptions a taxpayer can claim on their tax return Determine who the taxpayer can claim as a dependent Calculate the total number of exemptions a taxpayer may claim Report the taxpayer’s total exemption amount on the tax return Basic Tax Preparation Exemptions and Dependents | 2-1 lesson I: Personal Exemptions Personal exemptions are exemptions a taxpayer can claim on their tax return for themselves and their spouse. Here’s a snapshot of the maximum number of personal exemptions the taxpayer may be able to claim, based on their filing status. Filing Status Single Married Filing Jointly (MFJ) Married Filing Separately (MFS) Number of Personal Exemptions One...
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...Case Study 3: Zappos: Delivering Customer Satisfaction Ruby Holmes Strayer University Ethics and Advocacy for Human Resource Professional (HRM 522) June 7, 2015 Dr. Leslie Wills Case Study 3: Zappos: Delivering Customer Satisfaction 1. [Analyze the manner in which Zappos’ leadership has fostered a culture of ethicalness in the company. Zappos was able to capture the uniqueness of talented individuals by cultivating a craving to welcome an enhance way of culture’s that is like a running river that can’t stop running. To date Zappos efforts to strategize well defined plan’s has been amazing in terms of employing innovative, creative minds that continue to develop new products and categories. Zappos cornered the market of offering a kid friendly web site to shop via the internet or better known as on-line shopping. Zappos has made a toast to the innovative cyber shopping experience that is capped off with a fine taste of rare champagne by offering exceptional customer service. Zappos corporation is so knowledge and confident in their product line that their motto state the policy of easy return without any hassles. In the event that your merchandise that you order on-line does not exceeds your exceptional Zappos is willing to return the item(s) at no additional charge to the customer. Zappos continues the quest for exemplarily customer service. Mr. Nick Swinmurn founded Zappos after a frustrating day at the mall...
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...ISSUES IN E-COMMERCE Electronic commerce or ecommerce is a term for any type of business, or commercial transaction that includes the transmit of information across the Internet. Electronic commerce has expanded quickly over the past years and is anticipated to continue at this rate, or even step-up. The innovatory development of network technologies began electronic commerce as a global trend. E – Commerce utilizes electronic systems for not only buying and selling of the goods and services but also in marketing, supply management, fund transfer. Today most of the businesses rely on electronic systems at least at some points. World Wide Web, the resultant of Internetworking is the main contributor where telephone, mobile phone, fax also serve the purpose. Even though e-commerce technologies provide great benefits, any kind of online transaction give potential for immense misuse of these technologies. Several organizations become the target of e-commerce related crimes ranging from virus assault to business frauds, including e-mail theft, stealing sensitive data of person and credit card information. U.S government’s new internet fraud center does a survey that gathers and studies consumer complaints. Online auctions make nearly 50% of the complaints obtained by the center. Other major types of complaints are security and commodities complaints 16.7%, credit card complaints 4.8%, identity thefts generate 2.9% of the complaints, loss of business chances 2.5% and professional...
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...1. Discuss the company’s advertising strategy and how it aligns with its marketing goals. Angel Bee Vitamins will use different advertising media to get its name and details of its product and benefits out to the consumers. The company plans to implement a local campaign with the targeted market of the company via the use of flyers, local newspaper advertisements, and word of mouth. Management will also develop an online sales platform that will allow the business to generate sales from outside of the company retail location. This will done by developing an online presence by developing a website and placing the company name and contact information with online directories. The company will also have a feature to request a catalog from the website. Angel Bee Vitamins will also have an informercial broadcast twice a month to again gain customer awareness and try to increase sales of its products. The company intends to implement marketing campaigns that will effectively target individuals within the desired market. The main goal is to serve and have happy customers and enjoy profitability. 2. Discuss how the effectiveness of the advertising will be measured. The effectiveness of advertising can be simple to measure. First, the purpose of advertising is to persuade potential buyers that they want and need what a company has to offer. Successful advertising creates and nurtures that sense of need, and then persuades people to get up and go get whatever companies are...
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...Chapter I:3 Gross Income: Inclusions Discussion Questions I:3-1 The phrase "income from whatever source derived" appears in both the 16th Amendment to the Constitution and in Sec. 61(a). This overlapping terminology was adopted to assure the constitutionality of the income tax. p. I:32. I:3-2 In economics, income is defined as the amount that an individual could consume during a period and remain as well off at the end of the period as he or she was at the beginning of the period. In accounting, income is measured by a transactions approach. Accountants measure income when it is realized in a completed transaction. pp. I:32 and I:33. I:3-3 It is much easier to administer the tax law based on the accounting concept of income instead of the economic concept. Also, wherewithaltopay is greater when income is taxed as it is realized. pp. I:33 and I:3-4. I:3-4 The concept of wherewithaltopay means that a tax should be imposed when the taxpayer can most easily pay. A taxpayer who owns property that has increased in value does not necessarily have the funds needed to pay any tax. Taxing the gain when it is realized often means that the tax becomes due at the same time the taxpayer collects the sales price. p. I:3-4. I:3-5 A loan repayment is not consistent with the normal meaning given to the word income. A taxpayer is no better off because a loan is repaid. There has been no economic benefit. As a result the repayment of a loan is not taxable simply because...
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