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As a guarantor of a corporation can you be sued for the debts that they did not satisfy?
Wiki User
∙ 15y ago
Of course. That's why a person becomes a guarantor -- to satisfy the corporation's debts if the corporation is unable to do so.
Wiki User
∙ 15y ago
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Can an S corporation be sued?
Yes. S-Corporation status does not change a corporation's liability to suits.
Can You Be Sued for Credit Card Debts?
Absolutely yes. It happens to someone everyday.
Who can sue a corporation?
Corporations may be sued by any business, including other corporations. They may also be sued by individuals or groups of persons.
Can you file chapter 7 before your court date if you are being sued for an old debt?
Yes, but you have to file listing ALL your debts, not just the one you are being sued for.
What kind of life does a corporation have?
A corporation isn't an organism; therefore, it doesn't have a life. An organization is an entity, which can be sued and has the ability to make money.
By being a separate legal entity a corporation can sue and be sued This is known as a?
This is known as "legal personality" or "corporate personhood," which allows a corporation to enter into contracts, own assets, incur liabilities, and take legal action in its own name. This separate legal entity status provides protection to shareholders from being personally liable for the corporation's debts and obligations.
Can someone take your business name if you have an s corporation?
They can, and it is your job to bring attention to it and they can be sued.
Can you be sued for your husbands debt from before you were married?
In general, you are not responsible for your spouse's debts that were incurred before you were married. However, there may be exceptions depending on the laws in your state and if you live in a community property state where joint assets could be at risk. It is advisable to consult with a legal professional for specific guidance on your situation.
What happen when you don't pay your bills?
Your will lose your ability to pull credit for years, your accounts will go into collections, you can be sued for the debts, and/or you can wait 7 years for the debts to come off your credit report. If you have a judgement because you were sued, then it is likely that the debt will stay with you for 10 years +. Moral of the story, do the responsible thing and pay the debts off, even if it takes a long time to do so.
How long can you be sued for contract debts?
It depends what country you are in and the laws relating to debts. In South Africa if your creditor has not pursued you for 2 years a debt becomes "proscribed" and you cannot be pursued any further.
If a corporation is sued for selling unsafe products and loses the suit and is held liable who is responsible for the debt?
the shareholders
Can you get sued by WikiAnswers?
WikiAnswers is a website (and also a community) and as such, it does not have the legal capacity to file a claim against any person or entity. However, the company owning the site and in charge of operating it - Answers Corporation - is a U.S corporation, and as such, it has the legal capacity to file claims against people and/or entities in appropriate cases and circumstances. To sum it up, you can NOT get sued by WikiAnswers. You can, however, get sued by WikiAnswers' owner and operator, Answers Corp.
