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A party who agrees to be secondarily liable to a principal debtor is known as a?
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∙ 12y ago
guarantor
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∙ 12y ago
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Can a principal contractor be vicariously liable for the actions of his subcontractor?
Yes. The rule says that the principal is liable for the torts committed by the agent; subcontractor in this case.
Kinds of solidary obligation according to the legal tie?
Solidary obligation can be classified as either joint or several. In a joint obligation, each debtor is liable for the entire obligation, whereas in a several obligation, each debtor is only liable for their portion of the debt.
How is the word liable used in a sentence?
I'm not very liable to answer this quickly.
Is a medical receptionist liable for negligence?
Yes, All the hospital staff's are liable for medical negligence.
Is there a difference between guilty and liable?
Guilty and Liable both mean that you are responsible by law. However, you are "liable" in civil cases and determined "guilty" in criminal cases. There is also a difference between state (liable) and federal (guilty).
Can a principal contractor be vicariously liable for the actions of his subcontractor?
Yes. The rule says that the principal is liable for the torts committed by the agent; subcontractor in this case.
Who is liable for damages from an hit-and-run unlicensed driver and the insured owner of the vehicle was the passenger?
Both the Driver and the Owner are liable for the damages. The driver, whether licensed or not is the primarily liable party. The insured passenger owner is secondarily liable for damages by the unlicensed driver he permitted to operate his vehicle.
Is a A principal is liable for any harm caused by his or her agent's tort?
true
Is a domestic partner liable for the other's debt?
Only if he or she is a named joint debtor on the contract or lending agreement.
Is the principal liable for the faults of the products sold by the agent which are not a product of the principal?
It depends. There are certain situations where they could be. If they gave faulty instructions to their agent, of they were negligent in hiring the agent, or if they did not supervise the agent properly. Then, there is the doctrine of Respondeat Superior, which allows a principal to be liable for their agent's acts that happened while the agent was acting "in the scope" of the agent's authority. Then, there are specific factors that have to be met in order to prove that. It gets very complex.
What is a Reaffirmation agreement in chapter 7 bankruptcy?
A reaffirmation agreement is an agreement between the debtor and the lender that the underlying debt with not be discharged in bankruptcy. The debtor will remain personally liable for repaying the debt even after the bankruptcy.
Is a cosigner liable for an automotive repossession in Michigan?
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
Can a Power of Attorney be held liable for a principal's debts?
Under normal circumstances, no. An attorney-in-fact only acts on behalf of the principal and signs for the principal as the principal would act on their own and sign legal documents on their own. The attorney-in-fact has no personal responsibility for the debts of the principal.
What are the consequences of defying the power of attorney?
An agent who acts contrary to the duties of an agent can be liable to the Principal or the Principal's successors in interest for the amount required to restore the value of the Principal's property to what it would have been had the violation not occurred.
if your subcontractor is involved in an auto accident is your business liable?
Absolutely your business could be liable if the person is working for you at the time. Their insurance would be primary but you could be found secondarily liable. You can purchase a coverage called hired and non-owned coverage as an amendment to your business auto or liability insurance which would provide you coverage for this type of incident. The coverage is usually very inexpensive as it is secondary coverage.
What is the difference between franchise and agency?
Agency : principle is liable for the act of agent and agent get fees or commission from the principle. Franchise : Principle is not liable for the act of agent and PRINCIPAL get fees of commission form the agent.
Borrower personally liable for repayment of debt?
i have 1099c 2- amount of debt canseled 5- if checked, the debtor was personally liable for repament of the debt (x) 7- fair market value of property that mean that i suppose to pay any amount?
