Brian is the sole proprietor owner of Long Voyage Software, which writes programs to generate maps for wilderness trips. He started the business with an initial investment of $80,000. A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage Software for $5,000,000. Which of the following is true?
A) The customer can be awarded only $80,000-what the firm has available to pay.
B) The customer can be awarded $5,000,000, but can get only $80,000.
C) The customer can be awarded $5,000,000, but Brian personally won't have to pay more than $80,000.
D) If $5,000,000 is awarded, Brian will have to pay none of it.
E) If $5,000,000 is awarded, Brian is personally responsible for paying all of it.
Correct Answer:
Verified
Q95: An advantage of owning stock in a
Q96: Which of the following strategies might a
Q97: In a hostile takeover,
A) existing management of
Q98: How can a person be an indirect
Q99: The primary difference between a proprietorship and
Q101: Suppose you form a legal partnership with
Q102: A firm with one owner, who typically
Q103: Which of the following is considered to
Q104: Neighborhood florist shops, restaurants, and travel agencies
Q105: What type of business is most likely
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents