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What is the terminology for a loan guarantee if the loan is to be guaranteed by two people and the intent is that each party is 50 liable?
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What is project execution bank guarantee?
The bank will be liable for the successful project execution
What is your liability of paying back a business credit card if it had a personal guaranty attached to it and the company has gone out of business?
You are completely liable. That's the point of the personal guarantee. When you agreed to that you destroyed the concept of a corporate shield and are completely liable for the debt.
I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?
As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.
Can the bank letter of guarantee be transferable?
I received a letter of guarantee from a bank in 2005 informing me of my liability as i went guarantour for my son in a business which was wound up.I never received an invoice or demand for payment.My son lost his home and another partner ,lost some properties he owned to pay the debt.The bank have not contacted me to say that i am no longer liable.
Are you liable for your husbands credit card?
Yes, you are liable for your husbands credit card.
What is project execution bank guarantee?
The bank will be liable for the successful project execution
Does eBay have a guarantee on purchases?
"Ebay itself does not have a guarantee to purchases. This is up to the individual seller whether or not there is a guarantee. However, most wil ot reimburse you for the return shipping."
What is Difference between limited liability company and limited liability company?
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.
What is the difference between company and limited liability company?
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.
What is the difference between limited liability and unlimited liability company?
A company can be a limited or unlimited. Limited liability company is one which limits the liability of the members(shareholders) by (1) limited by shares or (2) limited by guarantee. Therefore Company limited by guarantee is a type of limited company which means the liability of the members' is limited by the guarantee given by them while becoming the member. The members have agreed to be liable to the company at the time of liquidation of the company upto an amount for which he is liable and does not have any other liability. Limited by shares means the member (shareholder) is liable for the value of the shares only. Members of the company with unlimited liability has unlimited liability for which they are liable even from their personal property if required.
What is your liability of paying back a business credit card if it had a personal guaranty attached to it and the company has gone out of business?
You are completely liable. That's the point of the personal guarantee. When you agreed to that you destroyed the concept of a corporate shield and are completely liable for the debt.
How do judges normally rule on personal guarantees?
Judges normally rule on personal guarantees based on the specific terms and conditions outlined in the guarantee agreement. They consider factors such as the language used in the agreement, the intent of the parties involved, and whether the guarantee itself was properly executed. Ultimately, the decision will depend on the facts of the case and the applicable laws in the jurisdiction.
What is difference between specific guarantee and continuing guarantee?
Definition of "Continuing Guarantee"A continuing guarantee is a guarantee where the guarantor assumes liability for any past, present and future obligations owed by a debtor to a lender or creditor. Even where the amount owing has been completely paid, the guarantor can still be liable under that line of credit if there is a subsequent indebtedness. Also known as a continuing guaranty. A common example is a guarantee for a revolving line of credit. specific guaranteeWritten undertaking to fulfill a specific obligation. Also called specific guarantee.
What is the difference between Bank guarantee and Counter guarantee?
A bank guarantee is a guarantee issued by the bank to the beneficiary that the bank will make payment in case the bank's customer does not make payment to the beneficiary or in case of non-performance of an obligation or contract. A counter guarantee is a guarantee taken by the bank from the bank's customer which ensures that the bank's customer is liable for any expenses including costs of attorney, any interest on delayed payment, taxes and other levies in case of invocation of the bank guarantee. It is a sort of security for the bank. It is always a good practice for a bank to take counter guarantee from its customer.
When can a child form mens rea?
A child can begin to form the mental capacity for mens rea, or criminal intent, as they reach adolescence and start to develop a better understanding of consequences and right from wrong, usually around the age of 12 to 14. However, the specific age at which a child can be held criminally responsible varies by jurisdiction.
I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?
As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.
Are oreck vacuums guaranteed with a warranty?
Vacuum cleaners purchased from there can be returned within 30 days of purchase, either with refund or a credit. However, they're not liable for and damage resulted from misuse or excessive impact.
