What are contingent liabilities and why might they be important in deciding whether to approve or disapprove a business loan request? How can a Sources and Uses of Funds Statement aid a bank in making the decision to grant or deny a business loan request? Contingent liabilities include such pending or possible future obligations as lawsuits against a business firm, and warranties or guarantees the firm has given to others regarding the quality, safety, or performance of its product or service
Products Liability Michael Stout Professor Anthony Cerminaro Law, Ethics, and Corporate Governance June 13, 2012 Abstract This paper will discuss McDonalds Corporation and the lawsuit brought against McDonalds by Stella Liebeck in 1994, when Stella Liebeck was burnt with her own coffee that she purchased from her local McDonalds. The paper will discuss what legal theories were used by the plaintiff to recover in this lawsuit, and how the lawsuit was resolved in the court of law. The paper
product liability. Kudler Fine Food has been around for over a decade with very few instances where legal counsel was needed. The times that there were attractions’, Kathy Kudler was advised to make settlement. This says a lot about the character of Kathy Kudler and KFF. Kudler, now business and versed in the food industry is exemplary due to the fact she attempts to ensure that all products that KFF manufactures are of the best quality. Product liability, What is exactly product liability? Product
REV. 1055 3/9/2006 12:21:03 AM OUTSIDE DIRECTOR LIABILITY Bernard Black,* Brian Cheffins,** and Michael Klausner*** This Article analyzes the degree to which outside directors of public companies are exposed to out-of-pocket liability risk—the risk of paying legal expenses or damages pursuant to a judgment or settlement agreement that are not fully paid by the company or another source, or covered by directors’ and officers’ (D&O) liability insurance. Recent settlements in securities class actions
Civil Liability Corporate Security Management Assignment#3 In today’s society, people tend not to feel safe when they carry out their normal daily tasks. Any a lot of cases they have every right to feel this way. Therefore businesses tend to look for help from different security companies to make their customers feel safe and secure when visiting their establishment. Business owners have found that is less costly and not as much of liability to have an officer from a security company without
Corporate Liability The term corporation is defined as an association of individuals, created under law, having a continuous existence with independent existence, powers, and liabilities of its members and considered legally a person. Even though forms of partnerships with unlimited and limited liability were rooted in Roman law, the first corporation was established in 1557 by royal charter. This charter granted exclusive trading privileges with Russia to the Russia Company and allowed it to
Vicarious Liability Vicarious liability applied where it is ‘fair, just and convenient’ to do so. (Viasystems v Thermal Transfer) Discuss the justification for VL and whether the recent developments in case law have overcome the limitations in VL in modern conditions. Vicarious liability (VL) is a form of joint liability in both person who committed the tort and the employer can be sued. VL arises when the relationship between the tortfeasor and the party who becomes VL which justifies giving
individual who has suffered a loss or injury due to their conduct. These wrongs that human beings commit against each other on a daily basis are called torts. A tort is a private or civil wrong that is independent of a contract. This essay will with references to decided cases, critically discuss the foundation of tortious liability and the purpose of law of torts. NATURE OF A TORT The nature of a tort can best be understood by making a distinction between a tort and a crime. The main object of criminal
Liability Today, many school districts have encountered liability issues. These liability issues affect students, employees, administrators and parents. This author will analyze various liability issues This paper will explore the current liability issues in Park County School District #6. The issues being covered will be; safety at school, unintentional torts, liability and negligence, supervision duties, FERPA, and student record confidentiality. Also the following questions shall be examined
Limited Liability Corporation, Limited Liability Partnership, Corporation Michael Feagin FIN/419 March 13, 2015 Professor Frederick Schutz Limited Liability Corporation, Limited Liability Partnership, Corporation Every business is started for a particular purpose. It can function as a charity, a firm, or simply a retail store. The way each business is structured is important, because it can help or hurt it in the long run. It should match what the business is trying to accomplish and also