Tim Operated His Own Business and Entered into an Employment

question 112

Essay

Tim operated his own business and entered into an employment contract with Kimball Industries to provide services and be paid as an independent contractor.Over an extended period of time,Tim worked exclusively for Kimball under the direction of Mr.Kimball,who gave Tim instructions for work he performed each day during established work hours.In the event that Tim committed a tort and a third party filed an action against both Tim and Kimball Industries,how would the court determine who would be held liable for the tort damages?

---

Definitions:

Preferred Dividends

Dividends that are allocated and paid to preferred shareholders before any dividends can be issued to common shareholders.

Voting Rights

The rights of shareholders to vote on company matters, typically exercised at annual meetings.

Dow Jones Industrial Average (DJIA)

A stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States, representing a significant indicator of the market's overall health.

Blue-Chip Stocks

Shares in large, reputable companies known for their ability to operate profitably in good and bad economic times, often paying dividends.