Strict liability

Noor Rizwan Sole proprietorship . A sole proprietorship is a form of business where there is only one owner, and there is no legal distinction between the business and the owner. Let's look at what operating as a sole proprietor means for Beth. Advantages of Sole Proprietorship Operating as a sole proprietor offers some distinct advantages for Beth. It's a pretty simple and easy type of business organization to manage. As we mentioned earlier, there is no legal distinction between her and…

I think that it is very important to talk about the different kinds of businesses existing in the UK. This is because it is part of Bennett Brooks' job to take care of different kind of businesses and then because it is a business itself. A sole trader is a held personal liable for his business borrowings and to any creditors if his business fails. He will also be held personally liable for any claims that are not covered by insurance. A limited company is registered at Companies House and is a…

require their members to carry basic liability insurance coverage. Anyone from a contractor, mechanic, and even construction worker is in a position to potentially need this type of coverage. Basic liability insurance provides a layer of protection that normally covers an individual for personal, bodily and property damage in the case of flawed workmanship (Joel, 2013). Beyond this basic coverage is professional liability coverage. Professional liability insurance or professional…

lifestyle for the first time and make their trip one to remember. Insurance Coverage With an RV share company, the renter as well as the owner are covered by a commercial rental insurance policy. This policy will cover a certain amount of liability, which should make the renter and owner more comfortable. The company also offers roadside assistance because you never know when there could be a problem on the…

BCS/CD-700 Michigan Limited Liability Company Form Form BCS/CD-700 Michigan Limited Liability Company carries articles necessary for the formation of Limited Liability Company in the Michigan State. The form has 5 articles governing various features. Filing duly completed form with the Bureau of Commercial Services is necessary for its execution. However, it attracts filing fees of $50. Expedited review and filing facilities are available at higher filing fees. The document is stored…

Snow is described as being ‘atmospheric water vapour frozen into ice crystals’. It cannot be owned in the air and there is no law on ownership of snow when it hits the ground. This leads to the assumption that snow is res nullius and title can be acquired by occupatio. The test for this is taking possession of the thing, whilst having the intention of becoming the owner of said thing. Therefore, when Looby Loo uses the snow to make her snowman she fulfils the first part of the test, and she…

Case Study Three: Arcadia Sports In the case of Jeb and Josh in the formation of Arcadia Sports, there are issues concerning the business entity and liability to Jane, who suffered an accident during an excursion with Arcadia Sports. It is unclear what type of business has been formed between Jeb and Josh and what liability each may have for the accident and what personal assets would be involved considering Jeb’s bankruptcy. Therefore, the main types of business entities, including advantages…

Our first #AskVic question is, can a member of a LLC receive a salary for their services? A Limited Liability Company (LLC) is an entity type that is formed at the State level. If the LLC only has one member, then it is called a single member LLC (SMLLC), which is a "disregarded enity," meaning that the Internal Revenue Service (IRS) does not recognize it as a separate entity, and the member would need to file a Schedule C on their personal tax return to report the income and expense activity…

company is recognised as a legal person with its own rights and obligations. Although, being a legal entity, it cannot operate without its organ namely, the Board of directors. The principle of limited liability flows from the concept of separate legal personality in that the assets and liabilities of the company belong to the company and not to its shareholders and directors . 1.2 Directors owe fiduciary duties to the company and are empowered to manage the company in good faith. Whilst de…

as the customers will be able to relate the Magic Wand Remote Control, its utility and design to the electronics and electrical items that it can operate(WIPO, WIPO Intellectual Property Handbook: Policy, Law and Use, 2008). Type of Business and Liability…