Jack Kihn incorporated and put $20 000 into the corporation by ...

[armygirl]

Question 1

Which of the following is considered to be a separate legal person in law?
◦ a corporation
◦ a partnership
◦ a professional practice
◦ an agency
◦ a sole proprietorship

Question 2

Jack Kihn incorporated and put $20 000 into the corporation by way of a shareholder's loan and took back a chattel mortgage on the corporation's equipment. The corporation created decorative boxes. An employee of the company delivered some boxes to a customer, who complained about the colour used. The employee became so angry that he shoved the customer, who fell into a glass display case, causing $30 000 damage to the customer and the case. On these facts, which of the following is false?
◦ The employee is liable for the tort of battery.
◦ If the corporation went bankrupt, Kihn himself would be a secured creditor.
◦ Although Kihn is the sole shareholder of the corporation, he is not responsible for company debts.
◦ The employee is liable for his tort and his employer is also liable.
◦ Kihn himself is vicariously liable for the damage caused by the employee.

[tofugiraffe]

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[Japanjot Singh]

thank you