Cornelius Recklessly Stored a Large Box of Fireworks on His

question 46

Multiple Choice

Cornelius recklessly stored a large box of fireworks on his residential property.The fireworks ignited when he carelessly threw a cigarette on them.Some of the fireworks shot off his property and struck a neighbouring house,which belonged to Cherilyn.Cherilyn's house was badly damaged by fire.Although she could not,of course,recover compensation more than once for the same loss,she would probably be able to successfully sue Cornelius in tort for

• A)Rylands v Fletcher and occupiers' liability and nuisance.
• B)Rylands v Fletcher and occupiers' liability but not nuisance.
• C)Rylands v Fletcher and nuisance but not occupiers' liability.
• D)Rylands v Fletcher but not nuisance or occupiers' liability.
• E)nuisance but not Rylands v Fletcher or occupiers' liability.

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Definitions:

Section 179 Expense

A U.S. tax code provision allowing businesses to deduct the full purchase price of qualifying equipment or software within a tax year instead of capitalizing and depreciating it over time.

Raul's Basis

This term is not a standard-tax related term or widely recognized financial concept. Likely refers to the basis of an investment or asset specific to an individual named Raul, which generally means the cost of the asset for tax purposes.

Capital Asset

Property owned for investment or personal use, excluding inventory or assets sold as part of a business's regular operations.

Guaranteed Payment

Payments made to partners in a partnership regardless of the partnership's income, often for services rendered or for the use of capital.