Principals Often Are Liable for the Torts of Their Agents

question 23

True/False

Principals often are liable for the torts of their agents under the doctrine of res ipsa loquitur, which means "let the master answer."

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Definitions:

Profit Or Loss

The financial result of a business's operations, calculated as the difference between revenue and expenses.

Maximizing Profits

The process of making the most financial gain possible from business operations, through various strategies such as cost reduction, revenue increase, or efficiency improvements.

Profit Maximizes

Refers to strategies or actions companies undertake to increase their profits to the highest possible level.

Quantity

The amount or number of a product or service available for purchase or sale.