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.
Yes, an employee can cancel employment as long as there was no contract for that employment. If there was a contract, the employee can be sued for breech of contract.
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.
Absolutely yes. It happens to someone everyday.
Of course. That's why a person becomes a guarantor -- to satisfy the corporation's debts if the corporation is unable to do so.
If you didn't sign the contract then you are not bound by the terms. You can't be sued for breaching a contract you didn't sign unless you authorized someone else to sign on your behalf such as an attorney-in-fact or authorized agent.
Implied-in-facet and expressed
Yes you can be sued for breach of contract. A verbal agreement can be considered a contract and the fact that you accepted a deposit suggests that you and the buyer had reached an agreement.
Yes, but you have to file listing ALL your debts, not just the one you are being sued for.
The house was probably sold as a rented unit which has more value to the buyer. He doesn't have to find a renter. If you were not notified that you were to move or if your contract was not changed by the new owner, then you broke the contract and can probably be sued.
Yes, if you are in breach of contract.
Yes, you can be sued legally for any verbal contract over $600, so don't joke around!!!!
If you opt out and have the right to do so it is considered terminating a contract. If you unilaterally decide to opt out of a contract and do not have a legal basis to do so; that is considered a breach of contract. If you breach a legal contract you can be sued.