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Liabilities April 25, 2007

Posted by John Pearson in Uncategorized.
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Liability: (Legal obligation or responsibility created by past actions requiring future settlement) The past event obligates us with little or no discretion to avoid it. The event that created the obligation has already occurred. A liability is also an accounting term that refers to a previously created obligation that will diminish or cause the use of assets. It is also a hindrance or a disadvantage.

Legal liabilities: The following terms describe levels or areas of liability.
1. Civil Liability: Issues that occur between people without the violation of any criminal laws.
a. Contract Liability: Agreements we make that require us to perform or deliver something create liabilities. Typically if I perform, I am paid and if I do not, I am not paid but I still incur the liability of performance. I may even have to pay for the additional expense incurred to perform or deliver in the event I do not.
b. Tort Liability: This differs from contract liability in that all citizens must recognize the duties imposed for their areas.
i. Negligence: We owe the duty of reasonable care to our neighbor. We are obligated (within our power) to protect.
ii. Nuisance: We are obligated not to interfere with other people’s enjoyment of their property.
iii. Trespass: The intrusion on to someone else’s property without permission.
iv. Defamation and false imprisonment: Making false statements about someone.
v. Product liability: The obligation to not produce or sell defective, harmful or deceptive products.
2. Criminal Liability: The violation of the criminal laws. The Bible divides the laws three ways. The laws regarding our relationship with God. (equivalent to our criminal laws) The laws regarding our relationship with each other. (equivalent to our civil or tort laws) The Bible had a third legal system that regarded the laws of the sacrifices. These laws have been done away with since Jesus came and ended the temple sacrifices with the sacrifice of Himself.

Financial Liabilities: These include debts for assets purchased like a car, a house a factory. Also, taxes that are or will become due, accounts with utilities, landlords, suppliers of materials etc that are usually due in a 30 day period.
1. Short Term: Those liabilities that are expected to be settled within one year. It’s a rolling year so the short term is always 12 months.
2. Long Term: Those liabilities that are expected to be settled more than one year from now.

Things that Create Liabilities: (Biblical Equity)

1. Things I do willfully, (With malice or guile) or things I do by accident.
a. Exodus 21:11-14. The things I do willfully with intent to hurt require an equal repayment. If its an eye, then an eye is returned. Exodus 21:24-25. Exodus 21:12, 14.
b. If I kill someone by accident then I will have a place to flee before the injured party revenges the damage in their anger, and a judge can hear the issue. (Cities of refuge were provided)
2. Things that happen because of my negligence or carelessness. Exodus 21:33-34.
a. The harm that comes to people or property because of my carelessness or negligence is my responsibility.
b. He should have warned those around it or covered it.
i. In Deuteronomy 22:8, a man is warned not to build a new house and not protect the roof so that a person may fall off and die.
c. Exodus 21:35-36 In these verses a man’s ox kills another man’s ox.
i. If the ox had never done anything like that before, then they sell both the live and the dead ox and divide the money.
ii. If the ox had been known to gore, then its negligence and the remedy is ox for ox.
d. Exodus 21:28-29 If a man’s ox kills a person.
i. If the ox had never done that before, then the ox dies and the owner shall be quit. He is not allowed to eat the ox.
ii. If the ox had a history of goring others, then the owner is negligent and he and the ox are put to death.
3. Not protecting my brother’s property. Deuteronomy 22:1-4
a. We cannot not stand by and watch something happen to another (thy brother) and not do anything about it.
b. If we can help we are liable to help.
c. Things I sell or do that are defective or deceptive.
4. Promises I make. Psalm 15 (Swearing to my own hurt)
5. Debts I incur:
a. The debt was repaid or the debtor became the slave of the creditor. II Kings 4:1
b. A thief was to be sold and the profit given to the one he robbed. Exodus 22:3-5
c. Most debts required interest on the repayment. Leviticus 6:5 deals with debts or things held that were lied about. (20% Interest)
d. The debt of sin that I was born with. This debt can only be paid by the blood of Jesus Christ. Romans 5:8, I John 1:7-9

The future settlement of the past actions of our sins is sure. The solution is Jesus Christ.

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Comments»

1. Carlos Vargas - October 24, 2007

Hola, este es un mensaje para Empresarios comprometidos por la Evangelización. Mi nombre es Carlos Vargas y vivo en Madrid, pertenezco a la Iglesia de Cristo en Madrid, de la familia de ICOC http://www.disciplestoday.com, y trabajo para un corporativo mundial con base en Madrid, para mi el estar aquí tiene el objetivo principal de ayudar a la gente Europea a volverse a Dios, por lo que tengo algunas preguntas para ustedes que necesito responder para avanzar el Reino de Dios en Europa, ¿qué estrategias de evangelización han desarrollado?, ¿qué mecanismo de financiación se pueden aplicar para hacer misiones autofinanciables? ¿cuál suguieren que sea el modelo de gobierno entre las Iglesias? De antemano gracias y que Dios les llene de su amor, temor y sabiduria.

2. Alonso - November 6, 2007

Excelente post, seria bueno tenerlo en español tambien


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