The _________________ Assumption Requires That the Activities of an Entity

question 220

Short Answer

The _________________ assumption requires that the activities of an entity be kept separate from the activities of its owner.

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Definitions:

Tort Law

A segment of law that addresses, rectifies, and provides remedies for civil wrongs not arising out of contractual obligations.

Privity of Contract

The relationship between parties in a contract that confers rights and obligations.

Individual

Referring to a single human being as distinct from a group, class, or family.

Contract

A legally binding agreement between two or more parties that outlines the terms and conditions of a particular arrangement.