I hope I get the solution for this case soon!Document Preview:Problem1: a) If a dog bites a person,is the relevant law statue or case law? Explain. b) Is a dog owner liable if her dog bites a burglar in her house? Explain. c) Is a dog owner liable if her dog bites a trespasser in her back yard?Assume that the trespasser was there to retrieve a Frisbee thrown over the fence and not for the purpose of committing a crime. Expain. d) To what extent is the negligence of the dog owner a factor in imposing liability? Explain. e) When a dog bites someone, what are the potential consequences to the dog owner? To the dog? Problem 2: To demonstrate your understanding of the rules about the tort of negliglence, analyze the following case. Phelps Development(PD) proposed a new property development that would require major debt financing. It contacted its bank and several venture capital firms, and was advised that it must frist present audited financial statements. Phelps, the CEO of PD, approached its accounting firms partners, Kaur, of PD s plans abd why it needed an audit. Kaur accepted the engagement. The audit was completed and Phelps showed it to several interested parties, including Money Lenders(ML). ML had heard about PDs proposals and was anxious to join this venture, since it already had several other successful interests in the vicinity. ML provided $500 000 debt financing. Eight months later, PD faced a serious cash crisis and was unable to meet its debts as they fell due. MLs loan was not repaid. On closer examination, it turned out that the audited financial statements included a serious material misstatement:$250 000 in liabilities were understated. ML is now attempting to recover its losses. Since PD is unable to pay, it seeks compensation from the accounting firm and Kaur as the individual partner responsible for the audit. Present arguments for ML, Kaur and the accounting firm.Task: Discuss the following two problems. The answers to each question of problem 1 may be only two or three sentences in length. The Attachments: first-assignm.rtf