Business Finance Homework Help

I’m working on a business law question and need guidance to help me learn.

Bart while driving his new sports car through a small town, lost control of the
vehicle while seeking to adjust the volume on his I phone and the car left the road
and crashed through the front wall of Pat and Chris’s house. Not surprisingly, the
house is badly damaged and the costs of repair are some $100,000. In addition,
until it has been fully reinstated, the council declared that it was uninhabitable
and Pat and Chris had to reside in a motel at $700 per week for some 10 weeks.
Because the wall that Bart crashed through was that of the lounge a $5000
television together with a $4,000 home theatre system were written off as well as
furniture and floor coverings to the value of $5,000. Pat and Chris also owned an
original painting by L S Lowry a well-known English artist. The painting had
recently been left to Pat by an uncle in the UK and they had asked a local art
expert to value it. Bart’s inadvertent incursion into their lounge unfortunately
destroyed the picture which was not covered by their contents insurance. Pat and
Chris subsequently received the expert’s valuation which valued the painting at
$120,000.

Required: Outline with reasons, the extent to which Bart or his insurers would bel
liable to compensate Pat and Chris for the above losses.