Are a tort and a breach of contract the same thing? Explain
What will be an ideal response?
A tort is a wrongful act, resulting in injury or damages. A tort differs from a breach of contract in that a tort is a violation of a right given by law, whereas a breach of contract occurs when there has been a violation of a right acquired by contract. In some instances, a circumstance can be both a tort and a breach of contract.
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Which of the following is one of the sources of information for EBM?
A. the best available hypothetical evidence B. the best available statistical evidence C. the best available stakeholder evidence D. the best available organizational evidence
A managerial preference for a very low degree of operating leverage might indicate that
a. an increase in sales volume is expected. b. a decrease in sales volume is expected. c. the firm is very unprofitable. d. the firm has very high fixed costs.
Which of the following is true of a contingent liability?
A) It is a potential liability that depends on a future event. B) It is an actual liability that is difficult to estimate. C) It is an actual liability that depends on a past event. D) It is a liability resulting from a lawsuit settled in court.
Under which of the following conditions may the partners by agreement modify or eliminate any of the grounds for dissolution?
a. A dissolution has been ordered by a court on application of a transferee of a partner's interest. b. A dissolution has been ordered by a court on application of a partner. c. The partnership is carrying on an illegal business. d. The partnership is a partnership at will that is failing because a partner has become bankrupt.