Joe and Josephine Have Started a Plumbing Business

question 66

True/False

Joe and Josephine have started a plumbing business.The business is incorporated,but they have not invested any money in the business,which has only minimal assets.One day Josephine negligently damages a main pipe in a customer's home,causing the basement to flood and resulting in $20,000 in damages.The homeowner's only remedy is to sue the corporation,but because the corporation has no funds and only minimal assets,the homeowner will bear the loss.Joe and Josephine are personally shielded from liability due to the corporate protections the business entity affords them.

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Definitions:

Strain Theory

A sociological theory that suggests individuals may engage in deviant behavior when they experience a discrepancy between societal goals and the means available to achieve those goals.

Full Scholarship

A type of financial aid that covers the entire cost of a student's education, including tuition, room, and board, and sometimes additional expenses.

University Class

A group of students who meet regularly to study a subject under the guidance of a teacher or professor at a university.

Social Adaptation

The process by which individuals adjust their behaviors, attitudes, and social practices to fit into or cope with the norms, values, and culture of a new social environment.