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Legal Aspects Of Business Practices: Negligence, Torts, And Intellectual Property

This Homework Answers document covers key legal concepts in business. Get it today!

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Legal Aspects of Business Practices: Negligence, Torts, and IntellectualPropertyWhat are the elements of negligence? How does an intentional tort differ from negligence?Provide examples. How does the strict liability doctrine apply to the practice of accounting?Provide examples.Key elements of negligence:The key elements of negligence are; Duty of Care, Breach of Duty,Harm, Factual Causation, and Legal Causation.Duty of Care:It is thecare and concern that everyrational humanbeing with a soundmindshow exhibit towards the fellow human beings.Breach of Duty:it refers to the failing of meeting the agreed obligations.Harm:this is nothing but harming others and causing damage to life and property of otherhuman beings.Factual Causation:Having been proven in court of causing harm and discomfort to a person orproperty.Legal Causation:Having been part of negligent activity, however not legally responsible underthe law.How does an intentional tort differ from negligence?When a personintentionallyacts to injure someone or their property, it leads to Intentionaltort. Most often, when a person commits the act of harming or injuring another person orproperty intentionally, causing an injury or damage, it is an intentional tort .For example,kidnapping, assaulting, or spousal abuse.Whereas, negligence refers to harming or damagingwithout an intention such as disobedience of the traffic laws resulting in an accident. Whilethey were breaking the law, they did not intentionally mean for the accident to occur.How does the strict liability doctrine apply to the practice of accounting? Provide examples.The strict liability doctrine in accounting deals with accountants who basically gambles with aclients money resulting in a major loss, most times without the clients knowledge of intent. Thisalso applies in the event of tax evasion whereas an accountant does not fully reveal a clientscomplete asset list, and results in an IRS audit to the client.

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