Jack Kihn incorporated and put $20 000 into the corporation by way of a shareholder's loan and took back a chattel mortgage on the corporation's equipment.The corporation created decorative boxes.An employee of the company delivered some boxes to a customer who complained about the colour used.The employee became so angry that he shoved the customer,who fell into a glass display case,causing $30 000 damage to the customer and the case.Given these facts,which of the following is false?
A) The employee is liable for the tort of battery.
B) The employee is liable for his tort and his employer is also liable.
C) Kihn himself is vicariously liable for the damage caused by the employee.
D) If the corporation went bankrupt, Kihn himself would be a secured creditor.
E) Although Kihn is the sole shareholder of the corporation, he is not responsible for company debts.
Correct Answer:
Verified
Q16: Another term commonly used where a bond
Q20: You have been asked by two fellow
Q33: The directors held their last meeting on
Q34: Which of the following is an example
Q36: An agent owes a fiduciary duty to
Q39: Your friend Harry became wealthy through the
Q40: Which two of the following are examples
Q41: When shares are involved,even preferred shares,there is
Q42: Consider the decision in Agrium Inc.v.Hamilton.What did
Q43: In Salomon v.Salomon & Co.,Mr.Salomon incorporated a
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