Thomas owns ten companies, each of which owns two taxi cabs. Each cab is insured for...
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Thomas owns ten companies, each of which owns two taxi cabs. Each cab is insured for the statutorily-required minimum amount of HK$50,000. Each of the ten companies has no assets other than its respective two cabs. He uses this corporate structure purposely to limit the liabilities that can arise from any single accident involving a cab. Patricia is severely injured by a cab owned by one of Thomas' ten companies and sues to hold Thomas personally liable. What answer below best describes the possible outcome? O a. Whether she can succeed against him will largely depend on whether Thomas knew that such an accident was likely to occur O b. Whether she can succeed against Thomas will largely depend on whether Patricia is able to pay her hospital bills O c. Unless she can show that the relevant company was a sham or illegal, she is very unlikely to succeed against Thomas Thomas owns ten companies, each of which owns two taxi cabs. Each cab is insured for the statutorily-required minimum amount of HK$50,000. Each of the ten companies has no assets other than its respective two cabs. He uses this corporate structure purposely to limit the liabilities that can arise from any single accident involving a cab. Patricia is severely injured by a cab owned by one of Thomas' ten companies and sues to hold Thomas personally liable. What answer below best describes the possible outcome? O a. Whether she can succeed against him will largely depend on whether Thomas knew that such an accident was likely to occur O b. Whether she can succeed against Thomas will largely depend on whether Patricia is able to pay her hospital bills O c. Unless she can show that the relevant company was a sham or illegal, she is very unlikely to succeed against Thomas
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Related Book For
Principles of Information Systems
ISBN: 978-0324665284
9th edition
Authors: Ralph M. Stair, George W. Reynolds
Posted Date:
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