Vicarious Liability

Categories: Accounting

You run a trash disposal business. Your employees are supposed to pick up people's trash and then take it to the dump. However, one of your employees has been skipping the second step so that he can get home early. Instead of going to the dump, he just dumps the trash by the riverbank.

Over time, used diapers, half-eaten food, and other trash has been washing up on the beach. It's causing a scandal. You didn’t know that your employee was dumping by the river. However, the concept of vicarious liability might make your company at least partially responsible.

As an employer, you bear some responsibility for the things your employees do. You didn't do the wrongful dumping. Your company didn't instruct the employee to do them...but you still have some responsibility for the oversight of your staff members.

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Finance: What is a Surety Bond?0 Views

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Finance allah shmoop What is a surety bond Think sure

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buck Well surety bonds air kind of like that We

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signer might guarantee that a small business will honor a

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government contract That is that small business will have to

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go borrow a whole bunch of money to go build

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a bunch of fence wire stuff for the government that

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signed on their behalf would likely have to either pay

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up or build the fence themselves The big guy i

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either guarantor gives the little guy the principal surety in

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delivering the contract to whoever wants it toe happen A

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k a The oblige g remember that song about the

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government there yet oblige E ope elijah Life goes on

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certainty the delivery of whatever product or service that surety

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