If a Person's 150-Pound Sheep Dog Has a Propensity to Jump

question 59

True/False

If a person's 150-pound sheep dog has a propensity to jump enthusiastically on visitors, the animal's keeper would be liable for any damages done by the dog's playfulness.

---

Definitions:

Liability

A company's financial debt or obligations that arise during business operations, to be settled over time through the transfer of economic benefits.

Owner Contribution

Capital injected by the owners into the business, increasing equity.

Creditor

An individual or institution that lends money or extends credit to another party, expecting to be repaid the principal amount along with interest or to receive goods and services.

Equity

The residual interest in the assets of an entity after deducting liabilities, often equated with ownership equity in a company.