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the corporation
Jasen Runte
Darian Altenwerth
the corporation
Wiki User
∙ 12y agoThe corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
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∙ 10y agothe corporation
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Who is responsible for the debt of a corporation?
the corporation
Who is responsible for corporations debt?
the corporation
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
When a business owner dies who is responsible for the debt?
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
Is wife responsible for any debt if the husband cosigned a loan for their son in a divorce?
It's up to the judge and the laws in your state, but probably not. Likely you will be responsible for your exclusive debt, she will be responsible for her exclusive debt, and you will split shared debt and assets.
Who is responsible for the debt of a corporation?
the corporation
Who is responsible for corporations debt?
the corporation
Who is responsible for a corporation?
The corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
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
When a business owner dies who is responsible for the debt?
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
What statement about corporations is not true?
their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts kking kkilla Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts
Who is responsible for church debt?
The responsibility for church debt typically lies with the church leadership, such as the board of trustees or elders. They are accountable for managing the finances and making decisions related to borrowing money or accumulating debt on behalf of the church. Members of the congregation may also play a role in addressing or supporting the repayment of church debt through donations or fundraisers.
My Step-father died am i responsible for his debt?
No, you are not responsible for his debt. His estate has that responsibility.
How many years are you responsible for a debt?
The length of time you are responsible for a debt depends on the type of debt and the statute of limitations in your state, typically ranging from 3 to 10 years. However, it's important to note that even after the statute of limitations has passed, the debt still exists, but the creditor can no longer sue you for payment.
Who is responsible for marital debt?
Both of the spouses are responsible for the debt. They both benefited from the debt, so they are held responsibility.
Are you responsible for your siblings debt?
You are not responsible for your sibling's debt unless you co-signed and agreed to be responsible for it. If you co-sign for a debt and the primary borrower doesn't pay then you will be held responsible for repayment.
What is the purpose of the Debt counseling Corporation?
The purpose of the Debt Councelling Corporation is to help it's clients to get out of debt. They offer debt management, bankruptcy services and housing counselling, in addition to educating clients about their financial situations.
