An Agent May Not Be Liable for the Tortious Conduct

question 16

True/False

An agent may not be liable for the tortious conduct of his or her principal if he or she merely indirectly participated in the principal's conduct.

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Definitions:

Useful Life

The estimated time period that an asset is expected to be usable for the purposes of a business before it becomes obsolete.

Salvage Value

The estimated residual value of an asset after its useful life has ended, and it can no longer be used for productive purposes.

Depreciation Expense

The charge to expense a portion of the cost of a fixed asset over its useful life, representing wear and tear, obsolescence, or decline in value.

Constant Rate

A uniform pace or level that does not change over a given time period.