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What else can I help you with?
An amount owed by a business?
Liability
What affect does limited liability have on suppliers?
A limited liability protects suppliers by reducing the amount of liability they have. When working with contracts, suppliers must do everything they can to ensure they are protected.
The owner's liability is limited to the amount of investment in the business?
Coorporation
How much general liability insurance does a personal chef in Maryland need?
Two million dollars is the common amount that most chefs begin with. It is important to have a comprehensive policy to protect yourself in case you are sued.
What is the type of business that the owners are not fully respnsible for the debts?
The type of business where owners are not fully responsible for the debts is typically a limited liability company (LLC) or a corporation. In these structures, the owners (members or shareholders) enjoy limited liability protection, meaning their personal assets are generally protected from business creditors. This structure limits their financial risk to the amount they have invested in the business.
Which one of the following types of businesses has the least amount of personal liability?
In limited company,the amount of personal liability is only limited to the shares you own and there is no personal liability.And the highest personal liability is in soleproprietorship.
Explain homeowners personal liability?
A personal liability, or umbrella, policy pays liability limits above those you can get on your homeowners or other basic liability policy. If you are thinking of buying a personal liability policy, begin by finding out the maximum amount of personal liability your homeowners policy provides. Make sure you coordinate the liability limits so that the umbrella policy covers any liability claim in excess of the amount your basic policy will pay, up to the maximum limits of the policy.
What one of the following statements about limited liability is correct?
Limited liability means that a company's shareholders are only responsible for the company's debts up to the amount they invested, protecting their personal assets from being used to settle the company's obligations. This legal structure encourages investment by minimizing personal risk, making it a fundamental principle for corporations and limited liability companies (LLCs).
Are factories who pollute the air with smoke required to have pollution liability insurance?
There are many different requirements for businesses who pollute the air with smoke. These businesses have to get permits and carry pollution liability insurance. Also, the amount of smoke they put into the air is also regulated.
Who pays if sued for more than liability coverage?
If the amount of liability insurance coverage isn't enough to pay for the damage, the insurance company will only have to pay the amount of the policy. For the rest of the amount, a personal lawsuit can be brought against the responsible party.
What is the difference between Partnership and Limited Liability Company?
in case of limited liability company the members are liable up to a specific amount or the capital invested by them but in case of partership the liability is unlimited and even the personal properties can be sold for paying up the credit in case of limited liability company the members are liable up to a specific amount or the capital invested by them but in case of partership the liability is unlimited and even the personal properties can be sold for paying up the credit
How much personal liability car insurance do I need?
Personal liability insurance is intended to cover you for damage you may cause to others. The amount of insurance you choose to get depends upon your assets and personal financial situation. There may be certain state minimum requirements as well.
What is the differnent between a current liability for an uncertain amount and a contingent liability?
Under current liability of uncertain amount liability is created on company although actual amount is unknown but in contingent liability, liability is not created on company unless specific date or time or occurence of any contingent action or activity.
How much liability insurance do I need on my car?
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
What is the difference between annual liability and annual flow liability?
Annual liability is the amount of liabilities you have at a specfied date, while annual flow liability is the amount of annual liability thatmust be repaid during the next financial year.
How much cash can you?
There is no set amount on the cash you can transfer. Businesses can transfer more money than people can from their personal accounts.
Who needs to carry personal umbrella insurance and what does it cover?
Personal umbrella insurance coverage and costs vary by company. Most require that you carry a defined amount of liability on your car or home policy.
