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Unit VIII Assessment
Respondeat superior is a doctrine which holds corporations liable for the injuries and damages sustained by their employees in performing their duties. This doctrine, also called “vicarious responsibility,” makes the employer liable for its employees’ actions so long as it is within the scope and duties of their jobs (Jones, Inc., 2002). Respondeat superior assumes that an employer has greater ability to stop and remediate harm done by employees. Therefore, the employer should be held liable (Nwankwo, J.B. Hunt Transport, Inc., 2019,). This law applies to all intentional or unintentional actions of employees, and it applies to both non-profit and for-profit companies (Doe v. XYZ Corp. ), 2020. The corporation issues a bond, which is a form of debt that requires it to pay the holder a specified amount of interest over a set period of time and to then pay the holder its full amount (Lopez et. al. 2019, 2019). A bond, in other words, is a loan that an organization takes from investors. The investors serve as lenders while the corporation serves as the borrower. Klapper et. al. 2020. The bond indenture is a legal document which outlines both the rights of bondholders as well as the conditions of the loan. It includes the interest rate, repayment schedule and other details. While bondholders can receive periodic interest payments and the repayment of principal as soon as their bonds mature, they have no ownership rights in the corporation. They also do not have voting rights in corporate elections. (Gitman, 2021).
