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Richard Is Starting a New Security Service

question 26

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Richard is starting a new security service.He tells his attorney,Kiera,that while he plans to prohibit all acts of discrimination and harassment,he cannot be all places at all times.Richard asks Kiera if there is anything he can do to limit his liability.What should she tell him?


Definitions:

Partnership Assets

Properties, funds, or resources owned collectively by a partnership and used in conducting its business activities.

Creditor

An entity to which a debtor owes money.

Agency

The fiduciary relationship that arises when one person consents to have another act on his behalf and subject to his control and the other consents to do so.

Boats

Watercraft of various sizes and types designed to travel on, through, or under water, primarily used for transportation, recreation, or sports.

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