Mark Complied with All Formation Requirements for Incorporating His Taxicab

question 65

Essay

Mark complied with all formation requirements for incorporating his taxicab business. He is the sole shareholder in the corporation. The corporation owns two automobiles that Mark frequently uses for his own personal use. In addition, he sometimes deposits the money he takes in during the day into his personal checking account. One day, an employee of the company, while driving one of the company vehicles, accidentally hits a pedestrian in a crosswalk. The pedestrian sues both Mark and the taxi company for $100,000. The corporate assets are only $32,000. Is the corporation liable for the acts of its employee? Will Mark be personally liable under the facts? Explain.

Identify the different types of principals and agents, and their implications on agency law.

Appreciate the importance of due diligence in hiring and the potential legal consequences of failing to do so.

Understand the legal concepts involved in suing for unpaid wages and the rights of workers in agency scenarios.

Comprehend the legal responsibilities and liabilities connected with negligence and intentional torts within employment and agency contexts.

---

Definitions:

Monogamous Relationship

A romantic pairing in which both individuals agree to have a sexually exclusive relationship with each other.

Vaccination

The administration of a vaccine to stimulate an individual's immune system to develop adaptive immunity to a pathogen.

Brain Volume

The total space occupied by the brain, often measured in cubic centimeters, used as an index in various neurological and psychological studies.

International Chess

A strategy board game for two players that follows internationally recognized rules, promoting competition and strategic thinking.