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Is the check signer responsible for an NSF corporate check?
The corporation is liable. The signer is not personally responsible to the payee, though they may, of course, face internal repercussions if the check was improperly issued - but that would be a personnel matter for the corporation, and not the payee's concern.
Who is responsible for a corporation debts but how much of it?
In a corporation, the shareholders are generally not personally responsible for the corporation's debts; their liability is typically limited to the amount they invested in shares. This means that if the corporation faces financial difficulties or bankruptcy, shareholders can lose their investment but are not liable for the corporation's debts beyond that. However, directors and officers may face personal liability if they engage in wrongful acts, such as fraud or negligence, that affect the company’s financial obligations.
What are the main reasons why corporation is separated from its owners?
The separation provides protection to the shareholders in the event corporation's liquidation. The shareholders are not liable more than the worth of their investments in the corporation.
Difference between partnership and public limited company?
A partnership is a legal term to define a joint venture of 2 or more persons. In a partnership all of the partners are jointly and severally liable for any losses. In this type of arrangement each partner can be forced to pay for all of any debts. They would then have the option of going after the other partners for their pro-rata share of the debt. In a limited partnership the only entity liable for the debts is the "general partner". The general partner can be either a person or another partnership or corporation. In a corporation the corporation is the only entity liable for debts. The owners are not liable. The corporation is a fictional "person" in the eyes of the law.
Can you be held liable for your parents debts?
Generally, no. Not unless you agreed to be responsible and signed an agreement to that effect.
As an corporation, am I responsible or liable for depositing employment tax?
Yes, you are responsible for depositing employment tax. The liabilities for the tax are split between the corporation and the business owner
Is the check signer responsible for an NSF corporate check?
The corporation is liable. The signer is not personally responsible to the payee, though they may, of course, face internal repercussions if the check was improperly issued - but that would be a personnel matter for the corporation, and not the payee's concern.
If you are selling someone your car and thay wreck it who's liable for it?
If the title, registration, and insurance are still all in your name, you (or your insurance company) would be responsible.
Can the FDA be held liable for injuries from drug side effects?
The FDA can not be held liable for injuries from drug side effects. Those responsible for a liability are the manufactures that produce the products and even medical professionals.
What is another word for liable?
answerable accountable chargeable
What is a liable?
Something or someone responsible by law.
What a synonym for liable?
answerable, subject, responsible, obliged, liable, obligated
When can accountable officer be held pecuniarily liable?
If the offense cost money, the officer responsible is pecuniarily liable.
What is a synonym for the word liable?
accountable, responsible, answerable
What is a synonym and antonym for the word liable?
responsible and unaccountable
How do you use liable in a sentence?
liable (RESPONSIBLE):The law holds parents liable if a child does not attend school.If we lose the case we may be liable for (= have to pay) the costs of the whole trial.http://dictionary.cambridge.org/define.asp?key=45796&dict=CALDliable (LIKELY):The areas of town near the river are liable to flooding (= are often flooded).[+ to infinitive] He's liable to make a fuss if you wake him.http://dictionary.cambridge.org/define.asp?key=45800&dict=CALD
What are the main reasons why corporation is separated from its owners?
The separation provides protection to the shareholders in the event corporation's liquidation. The shareholders are not liable more than the worth of their investments in the corporation.
