AFM231 Study Guide - Final Guide: Limited Liability Partnership, Fiduciary, Limited Partnership

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Darren Charters

Document Summary

Occupier : someone who has control over land or the buildings on that land , a business conducting business in a building is an occupier even if they are only leasing. , occupier"s have liability to anyone entering the land or property, determined by the classification that the person is ; trespasser , licensee , invitee or contractual entrant. Contractual entrant : someone who has paid for the right to enter ( museum goers) , duty owed to them by the occupier is to make sure premises are safe. Invitee : someone whose presence benefits the occupier ( customer at a store) , occupier has a duty to warn of unusual danger. Conflicts between neighbors due to land use is a common example, this tort allows you to attain your right to enjoy the benefits of your land uninterrupted by the actions of others.