Precision Craft, Inc

question 48

Multiple Choice

Precision Craft, Inc., makes tools. While using a Precision tool to replace an electrical fixture, Stan neglects to shut off the power and is electrocuted. Stan's heirs file a suit against Precision. In a contributory negligence jurisdiction, the plaintiffs could recover​

• A) ​only if both parties were equally at fault.
• B) ​only if Stan was less than 50 percent at fault.
• C) ​only if Precision was more than 51 percent at fault.
• D) ​nothing.

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Definitions:

Shares Issued

Refers to the total number of shares that a company has allocated to shareholders as part of its capital structure, including those owned by the public and the company itself.

Par Common Stock

The nominal or face value of a share of common stock, as stated in the corporate charter, which has minimal effect on its market value.

Market Value

The existing rate at which a service or asset is available for purchase or sale on the marketplace.

Paid-In Capital

Funds raised by a company from investors through the issuance of securities such as stocks, representing the capital contributed by shareholders in excess of the par value of the shares.