Tim Has a Toenail Clipping Business That Is a Sole

question 13

Multiple Choice

Tim has a toenail clipping business that is a sole proprietorship. If he is sued for a botched pedicure

• A) he has limited liability.
• B) he has separation of ownership and control.
• C) all of his personal assets are at risk.
• D) he will be taxed doubly.

---

Definitions:

Contingency Fee Agreements

Legal service agreements where payment to the attorney is contingent upon winning the case, typically as a percentage of the awarded amount.

Provincial Law Societies

Regulatory bodies responsible for governing the legal profession within their respective provinces, ensuring ethical standards and competence.

Provincial Law Society

A regional regulatory body that oversees the practice of law in a specific province, ensuring ethical standards are maintained.

Compensation

Monetary or non-monetary benefits provided to an employee or contractor in exchange for their services or to compensate for losses or damages suffered.