Can someone help me put this in FIRAC. PLEASE
Factual Scenario:
Pat was an avid mountain biker who knew much about bicycle repair. Tom also was a mountain biker, but did not know much about bicycles or their repair. The gears on Tom's bike were not working properly so he took his bike to Pat and asked if Pat could repair it. Pat said that was possible, so Tom left his bike with Pat for the week. Pat was able to fix and adjust the gears on Tom's bike so that they worked properly. Tom's bike was a top-of-the-line model, and much newer than Pat's bike. When Tom called Pat on Friday to see if the bike was ready for him to come pick up, Pat asked to keep the bike until Sunday. Pat wanted to try the bike out on Sunday on a ride with some friends. Tom told Pat that this was acceptable. On Saturday night, the bike was stolen off Pat's third floor apartment balcony where the bike was unlocked. Discuss whether Pat is liable to Tom for the loss.
Pat is the person who kept the bike with him on the permission of Tom . It is his responsibility to take care of the bike when he knows that it is top model . He left it unlocked outside and hence it got stolen . This is the mistake of Pat as he knows that the bike is expensive and top model and his responsibility . Therefore he is liable to Tom for the loss.
Can someone help me put this in FIRAC. PLEASE Factual Scenario: Pat was an avid mountain...
can someone please put the expert answer in FIRAC format. Ethics Factual Scenario Consumer Lending Corp. is a national consumer loan company whose shares are traded on the NYSE. It conducts business through local loan offices throughout the nation. It borrows the funds it uses to lend to consumers by selling commercial paper (in the form of promissory notes secured by the underlying consumer loans) to large institutional investors. The cost of acquiring these funds is substantially affected by the...