Question
Tyrone and Rufus jointly own 50% each of the shares in T.R. Ventures Inc. (TRV). TRV makes and sells Earth-orbiting satellites for NASA and major
Tyrone and Rufus jointly own 50% each of the shares in T.R. Ventures Inc. (TRV). TRV makes and sells Earth-orbiting satellites for NASA and major telecom companies in California. The most recent satellite that TRV sold to NASA fell out of space out-of-control and crashed into Rudy's car while he was driving up I-81 outside Winchester VA. Rudy's car is destroyed and Rudy has extensive and painful personal injuries. Rudy sues TRV and is awarded $1,200,000.00 (1.2 Million) dollars. The following are the bank account balances for Tyrone, Rufus, and TRV Inc. (5 Points Each)
Tyrone: $1,000,000 ($1M)
Rufus: $1,000,000 ($1M)
TRV Inc.: $56,000.00 ($56K) a. In which court system (jurisdiction) was this lawsuit tried? __________________________ b. Total personal liability (exact dollar amount) Tyrone must pay? ______________ c. Total personal liability (exact dollar amount) Rufus must pay? _________________ d. Total amount TRV Inc. must pay? ____________________
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