Legal delinquency, Financial Accounting

Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable and prudent man wouldn't do. Negligence is the failure to use such care as areasonably prudent and careful person will use under similar circumstances; it's the doing of some act that a person of ordinary prudence wouldn't have done under similar circumstances or failure to do what a person of ordinary prudence would have done under similar circumstances.

The term denotes only to that legal delinquency that results whenever a man fails to exhibit the care which he ought to exhibit, whether it be slight, ordinary or great. It's characterized chiefly by inadvertence, thoughtlessness, inattention, and like, while ‘wantonness' or ‘recklessness' is characterized by wilfulness. Law of negligence is founded on reasonable conduct or reasonable care under all circumstances of particular care. Doctrine of negligence rests on duty of each person to exercise due care in his conduct toward others from which injury may result.

Posted Date: 8/17/2013 6:04:35 AM | Location : United States

Related Discussions:- Legal delinquency, Assignment Help, Ask Question on Legal delinquency, Get Answer, Expert's Help, Legal delinquency Discussions

Write discussion on Legal delinquency
Your posts are moderated
Related Questions
Create a description of your company and its primary business activities. Include: a) A brief historical summary b) The lines of business the firm is engaged in (Is the compa

Transaction Entry Information: May 1 Owener H.Hadi invested $40,000 in the business

how can make a balance sheet

what is the implication of applying accounting concept wrongly

ABATEMENT OF LEGACIES (a) If the assets, after the payment of debts, necessary expenses and specific legacies, are not sufficient to pay all the general legacies in full, the l

Looking for Income Statement and Balance Sheet for the Better USA, Inc. company for 2010 and 2011 Facts: Sales 11,573 (2010) and 12,936 (2011) - Depreciation 1,661 and 1,736 - Cost

You have the following information about rates in London for Eurocurrency loans of one-year duration, the exchange rate between the USD and euros, the currency in which you want fi

how solve the problems of trail balance?

Natural Furniture Company manufactures three outdoor products, benches, chairs, and tables. Every product must pass by the following departments before it is shipped: sanding, sawi