Question

QUESTION FOR DISCUSSION: Should the sole shareholder (100% ownership) of an LLC be able to avoid...

QUESTION FOR DISCUSSION: Should the sole shareholder (100% ownership) of an LLC be able to avoid liability for the torts of his or her employees? Why or why not?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Explanation

Sole shareholder (100% ownership) of an LLC would not be able to avoid lability for the torts of his or her employees.

This is so because no other person can be made liable for the mistakes someone else even if it is a case of sole shareholders of an LLC.
In case of llc where an employee does any mistake/torts, he is the only person who shall be made responsible for his or her mistakes.

Also, company is an artificial person and saperate from its shareholders and employees. This means that the liabilities of its members and employees would be saperate from the liabilities of the company.

Hence, the sole shareholder (100% ownership) of an LLC would not be able to avoid liability for the torts of his or her employees.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Fan Bingbing is an employee, sole shareholder, and director of an environmental company called Blackspot Pty...
Fan Bingbing is an employee, sole shareholder, and director of an environmental company called Blackspot Pty Ltd (Blackspot). The company cleans up black spots in the environment left behind by mining companies that failed to properly remediate their sites when they were finished. In the past Fan was an employee of another company that did similar environmental protection work called Yellowscope Pty Ltd (Yellowscope). Yellowscope, however, began laying-off staff and instead outsourcing its project work to independent contractors. To take...
Respond to discussion question below (should be a 200-word minimum per question): Many companies utilize dynamic...
Respond to discussion question below (should be a 200-word minimum per question): Many companies utilize dynamic pricing – Uber, airlines, hotels, etc. – effectively a form of price discrimination. Is this fair from a psychological perspective? Why or why not? How could (or do) businesses employ it and still be perceived as fair by their employees and customers? What are the main differences between those approaches and approaches that are perceived as fair? (Tip: You may find it easier to...
1.) The basic rules governing how a corporation is organized and how it conducts its business...
1.) The basic rules governing how a corporation is organized and how it conducts its business are known as _____. a. certificates of organization b. corporate bylaws c. prospectuses d. articles of incorporation 2.) A _____ is a legal business entity that offers limited liability to all of its owners. a. Limited partnership b. General partnership c. Sole proprietorship d. C corporation 3.) How is the formation of limited liability companies (LLCs) similar to the formation of corporations? a. Similar...
This is just a discussion post from my classmate. I just need to respond. Based off...
This is just a discussion post from my classmate. I just need to respond. Based off of what is written, please answer with a simple analysis of what's written. (example: Interesting post, I see that...) 1. Discuss each of the following business entity types including ownership, financial and legal and tax issues related to each type. Sole Proprietorship A sole proprietorship is owned by only one person and the firm and the owner are considered one and the same from...
Cooperative Education--Discussion Question #2--Spring, 2018 COLLAPSE Hello Everyone: This second class discussion question is designed to...
Cooperative Education--Discussion Question #2--Spring, 2018 COLLAPSE Hello Everyone: This second class discussion question is designed to give you some practical insights regarding the internal workings of some of our most successful companies. As such, please read the following specific guidelines for this second class discussion question: 1. Conduct a Google search entitled “Fortune 100 Best Companies To Work For 2017”. From that list select two companies that you are NOT familiar with. Select companies from the list that you are...
Question 8 1 pts Which of the following statements regarding the business judgment rule is/are TRUE?...
Question 8 1 pts Which of the following statements regarding the business judgment rule is/are TRUE? Group of answer choices A shareholder may choose whether to file a derivative lawsuit or alternatively demand that the board of directors take action. The party in interest of a derivative lawsuit is the shareholder who files the lawsuit. A court will not second-guess directors who vote to block a corporate merger, as long as they view the merger as a hostile takeover. The...
CPA Interview Question Get his or her take on the following concept. Should the United States...
CPA Interview Question Get his or her take on the following concept. Should the United States to IFRS instead of GAAP? Are there reasons why GAAP is a preferable accounting standard over IFRS?
Discussion Question USA Tax Law 1.On December 26, you received a call from your client Mike...
Discussion Question USA Tax Law 1.On December 26, you received a call from your client Mike that a fire had completely destroyed the roof to his auto repair shop. The entire inside of the shop was water and smoke damaged. "At least, I don't have to pay any taxes this year!" And your reply? 2. In 2001, Tammy bought a home with her parents for $300,000, (assuming Tammy has 1/3 ownership). The home was upgraded for new solar panels costing...
*Please clearly label what answer is for each question.* a. Trey claims a dependency exemption for...
*Please clearly label what answer is for each question.* a. Trey claims a dependency exemption for both of his daughters, ages 10 and 12, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters. His AGI is $123,000. b. In 2017, Elaine paid $2,760 of tuition and $1,060 for books for her dependent son to attend State University this past fall as a freshman. Elaine files...
1. which of the following business entities are under state law? sole propietership LLC P Corp...
1. which of the following business entities are under state law? sole propietership LLC P Corp Limited partnership all of the above 2. you and 20 other employees had access to a cash register. money is stolen out of it. which of the foloowing can your employer do legally regarding a polygraph test? A. ask you to take it if you agreed B. make you and the other 20 take it C. fire whoever doesn't take it D. fire whoever...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT