Basil, a Clerk at Cycle World, Takes a Bicycle from the Store

question 63

Multiple Choice

Basil, a clerk at Cycle World, takes a bicycle from the store without the owner's permission. Basil is liable for conversion​

• A) ​if he damages the bicycle.
• B) ​if he does not have a good reason for taking the bicycle.
• C) ​if he fails to prevent a theft of the bicycle from his possession.
• D) ​under any circumstances.

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Definitions:

Controlling Interest

Ownership of more than 50% of a company's voting shares, which gives the shareholder a significant level of influence or control over the company.

Indirect NCI

Non-controlling interests (NCI) held by an entity indirectly through its control over intermediaries, reflecting a minority stake in the subsidiaries of the group.

Pre-acquisition Equity

Equity interest in a company that exists before a new acquisition or investment is made.