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Answered 2008-03-27 16:22:45

Only if the lender agrees to release the personal guarantee of the old owner. If A loans money to B, and later B and C agree between themselves that C will be responsible for the loan, that does not change the contract between A and B. A can still enforce the terms of the note against B under those circumstances. We are often asked why it is important to build a strong business image and credit. There are two answers to that question. The first and the most obvious answer is that it is important to build strong business credit in order to Secure Business Financing. However, not all businesses require external financing; often entrepreneurs will refer to family and friends for startup capital. This is where the second reason, Emergency Financing takes precedence.

If your business is experiencing strong growth such as a need to expand warehouse space, inventory, or work force, and the financing of such operation is beyond that which is available from friends and family, a strong business image and a strong business credit profile can aide in securing financing with lower rates and quicker approval times.


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A business name is not required to obtain general liability insurance for your business. It is recommended that you incorporate your business to limit your liability.

form_title=Business Liability Insurance form_header=Protect your business with the right business liability insurance for your needs. What is the annual revenue of your company?=_ Does your company currently have insurance coverage?= () Yes () No What type of business liability insurance do you need? (Check all that apply)= [] General Liability [] Workers Compensation [] Business Owners Policy (BOP) [] Property [] Professional Liability [] Business Travel [] Business Automobile

A property is not a contract or a business. A liability insurance policy is a kind of contract but not a business. the answer is b...

A Business Owner can purchase Business Liability online at the website of Hiscox. You can go to their website and also get an online quote. You can also purchase Business Liability Insurance online at Geico. They have four Business Insurance options including Professional Liability Insurance.

Incorporating means forming a company or other type of business entity. Business man can operate a business as a sole proprietor however there are certain benefits in incorporating an company or Limited Liability Company. One of them is Limited Liability. The members of an Limited Liability Company or Corporation are not personally liable for the debts accumulated by the Limited Liability Company, however there are few exceptions to these rule. There are also drawback like more complicated bookkeeping.

The owner can be held personally liable for business debts, but it depends on the business structure and what type of contract the owner holds. If the owner is operating a sole proprietorship (he/she is the only owner), the owner and the business are technically considered the same entity, meaning the owner has full personal liability for any business debt. In a partnership, the business belongs to each partner, meaning that business debt also belongs to each partner personally. Each partner is liable for 100% of business debts. The only time an owner is not held personally liable for debts is in a corporation or LLC. In both of these cases, the business and owner are considered separate entities and, in theory, the owner could have no personal liability for business debt. Liability could occur if the owner has signed a personal guarantee, has offered his/her property as collateral, has signed a contract in his/her own name, he/she uses personal loans or credit cards to fund the business, or there is some sort of fraud or sloppy record-keeping.

Limited partnerships (LPs) and limited liability partnerships (LLPs) are both businesses with more than one owner, but unlike general partnerships, limited partnerships and limited liability partnerships offer some of their owners limited personal liability for business debts. In limited partnerships (LPs), at least one of the owners is considered a "general" partner who makes business decisions and is personally liable for business debts. But LPs also have at least one "limited" partner who invests money in the business but has minimal control over daily business decisions and operations. The advantage for these limited partners is that they are not personally liable for business debts. The limited liability partnership (LLP) is a similar business structure but it has no general partners. All of the owners of an LLP have limited personal liability for business debts. In order to better understand LPs and LLPs, it's helpful to compare them to general partnerships.

1. Capital introduced in business is liability of business towards it's owner to payback, so if owner's introduce more capital it increases the liability of business that's why it is also liability.

Drawings are classified as an liability to the business

Liability Protection:In general partnerships, each participant is personally responsible for the actions of the company. This includes debts, liabilities and the wrongful acts of other partners. One advantage of a limited liability partnership is the liability protection it affords.Flexibility:Liability partnerships offer participants flexibility in business ownership.

It is a good idea to consider purchasing general liability insurance for your business. General liability insurance can protect your business and give you peace of mind.

a plc has limited liability like an Ltd

An LLC (Limited Liability Corporation).

Business liability insurance protects a company's assets from a lawsuit. If a business is high risk or doesn't have enough capital to cover a lawsuit, they should have business liability insurance.

Investors are those persons who invests money in business so they are the owners of business as well and that amount is the liability of business to pay back to it's owners that's why it is the liability and not the asset.

There are many reasons why sole proprietors choose to incorporate a LLC or corporation. Just to mention two of them: 1. Sole proprietors are personally liable for the debts accumulated by their business. Limited Liability is limited personal liability protection. The members of a Limited Liability Company are not personally liable for the debts accumulated by the Limited Liability Company. 2. In some cases businessmen find it more beneficial to be taxed at corporate tax rates.

Limited personal liability is the advantage of incorporating your business.

The liability of various forms of business are as follows: Partnership: The liability of the partners is joint, several and unlimited. Sole proprietorship: The liability is of the proprietor is unlimited. LLP: The liability is limited by MOA and AOA.

Capital is that amount which is invested by owner of business in business and it's the liability for business to return back to it's owner that's why it is liability.

Liability is where a business allows shareholders to have control over a business. Liability in French means check out my big saggy old man balls.

The move to a limited liability company completely depends on the type of small business they own. For most small businesses, turning into a limited liability business is worthwhile.

Yes any payable is liability of business in this way wages payable is also liability.

If rent is payable then it is liability for business but if rent is already paid then it is not liability but it is expense.

Contractual liability insurance that covers liability transferred in a wide variety of business contracts.

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