The Auto Garage Advertised Vehicle Repairs by "Licensed Mechanics

question 9

True/False

The Auto Garage advertised vehicle repairs by "licensed mechanics." Tony,a car owner,took his vehicle to Auto for repairs.The garage owner,Xavier,examined the car,and indicated that extensive repairs were required.Tony left his car with Xavier,and the repairs were carried out by another licensed mechanic,Rick,an employee.Tony paid $150 for the repairs,but on his way home discovered that the repairs had been negligently made,and had ruined the engine.
-Auto is liable to Tony under the vicarious performance rule for Rick's negligence.

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Definitions:

Bond Liability

A financial obligation representing money a company owes to bondholders, to be repaid at a future date, typically with interest.

Market Rate

The current interest rate available in the marketplace on loans, bonds, or deposits, often influenced by supply and demand and the monetary policy of central banks.