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Finance 431Class Project #12Names:_________________________ ______________________________ ________________________Work in groups of 2 or 3. At least one person should have taken Fin 230. For each of the following cases decide if you think that the individual in each case should be legally liable. Liability could be based on negligence, an intentional tort, a contract or a statute. Be prepared to defend your choice in class discussion. 1. A customer in a grocery store takes a jar of cranberry juice from the shelf to put in her cart. The jar slips out of her hand and smashes on the floor. The customer is cut by the glass and requires stitches. Her medical bills are $500.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: _________________________________________________________________2. Another customer is walking down the aisle where the other customer spilled the cranberry juice. This customer slips on the spilled juice and falls, hurting his back. He sues the store for his injuries.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________3. A shopper in a department store is apprehended by store security guards and briefly detained before beingreleases. It turns out that the customer was dressed similarly to another customer who had been observed shoplifting and the guards detained the wrong person. The customer sues the store for the humiliation andmental anguish caused by the incident which took place in the presence of his children.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: _______________________________________________________________4. A participant in a demolition derby contest sues the sponsors for whiplash injuries suffered during the event. The injuries resulted in medical bills and loss of earnings.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________5. The 4 year old child of a customer enters an area of the store marked “Employees Only” and starts playing with an automatic stapler. The child ends up accidentally stapling his fingers. The customer suesthe store for the injuries to the child.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________6. A shopping cart left in a parking lot by a customer is blown into another customer’s car and causes scratches to the paint. This customer sues the store owner for the cost of repainting her car.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________7. A landlord places a hidden video camera in a tenant’s apartment. The tenant is later subject to embarrassment when video clips appear on the internet.Should the store owner be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________8. An actuary underestimates the loss reserve for an insurance company. When the underreserving is discovered, the value of the company’s stock declines significantly. The shareholders sue the actuary for their losses.Should the actuary be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ____________________________________________________________9. An editorial writer for the Daily Illini describes a professor who is opposed to Unofficial as “an alcoholic who wants to spoil everyone else’s fun.” The professor is later turned down for life insurance based on this false allegation. The professor sues the writer for damages. Should the writer be liable? Yes NoOn what grounds? _______________________________________________Explain your answer: ________________________________________________________________10. A jeweler has a cobra in a display case to thwart theft. When a customer taps on the case to wake the snake up, he hits it so hard he breaks the glass. The snake then bites the customer. The customer sues thejeweler for his injuries.Should the jeweler be liable? Yes NoOn what grounds? _______________________________________________Explain your answer:


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