0
Whether the company which is taking over would be liable to fulfill all obligations of the company which has been taken over?
In general, when a company takes over another, it may assume the liabilities and obligations of the acquired company, depending on the terms of the merger or acquisition agreement. This can include debts, contracts, and other obligations. However, the specifics can vary based on the structure of the deal (e.g., asset purchase vs. stock purchase) and applicable laws. It's crucial for both parties to clearly outline these responsibilities in their contractual agreements.
What else can I help you with?
Is a surety and guarantor the same thing?
A surety and a guarantor are similar but not identical concepts in finance and law. Both involve a third party agreeing to take on the obligation of a borrower if they default, but a surety is typically more directly involved in the transaction and may be liable as soon as the principal defaults. A guarantor, on the other hand, usually only becomes liable after the principal has failed to fulfill their obligations. Thus, while both provide security for a loan or obligation, their roles and responsibilities can differ.
What is unincorporated company?
An unincorporated company refers to a business structure that is not legally recognized as a separate entity from its owners. This means that the owners, often referred to as partners or sole proprietors, are personally liable for the company's debts and obligations. Common forms of unincorporated businesses include sole proprietorships and general partnerships. Because they lack formal incorporation, these businesses typically have fewer regulatory requirements but also provide less protection for personal assets.
What are 2 benefits of converting from a partnership to private limited company?
The formation of a limited company makes the company an entity in its own right with its own liabilities. If you are a partnership and the company goes bust you and your partner are personally liable for any monies owed. If the company is Limited then it is limited to paying the investment into the company and its assets to its creditors should the company fail.
When does a company become a limited company?
Limited company refers to a company whose liabilities are limited to the number shares of shareholders. During the time of winding up the business shareholders are liable to pay only the remaining amount that has to be paid as shares. If a shareholder had already paid full amount of his shares for him there is no need to pay any money.Limited company is different from limited liability company.
How liable should companies be for violent acts committed during work by their employees?
Companies should be completely liable for violent acts committed during work by their own employees. Workplace violence is the third leading cause of occupational death and growing type of homicide in the United States. Companies have legal obligation and financial incentive to prevent it because the company can be held liable either directly or vicariously for the violent acts committed by its employees against other employees and even injuries suffered by their employees as a result of violent acts. Companies are held liable when: Negligent hiring of employees, negligent retention and/or inadequate safeguards to provide a "safe and healthful workplace". Company behaves negligently towards workplace violence and thereby permits such violent acts to occur. This is also referred to as direct liability. Company is not directly responsible for the violence and whose conduct was not negligent towards the act but as the employee who caused misconduct belonged to that company, the company is held responsible for it too.
What is the role of a principal?
As the head of a school or other educational organisation, he/she is the person of first importance to direct the events, actions or organisation of the establishment. The person primarily liable to fulfill the obligations of an educational institution
What are the issue in salomon v salomon coltd?
whether Mr Salomon liable for the debt of the company
Is the estate liable for the debt on a surviorship deed?
The estate is liable for the obligations of the deceased. They would have to settle the debts.
What do you mean by corporate veil?
A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other obligations. This protection is not ironclad or impenetrable. Where a court determines that a company's business was not conducted in accordance with the provisions of corporate legislation (or that it was just a facade for illegal activities) it may hold the shareholders personally liable for the company's obligations under the legal concept of lifting the corporate veil.
What are the liabilities of a signatory?
A signatory is legally bound to the terms of the agreement they sign, which means they may be held liable for any obligations outlined in that document. This liability can include financial responsibilities, compliance with legal requirements, and adherence to the terms of the contract. If the signatory fails to fulfill these obligations, they may face legal consequences, including lawsuits or penalties. Additionally, in certain contexts, a signatory may be personally liable if they signed on behalf of an entity without proper authority.
What does civilly liable mean?
Civilly liable refers to an individual's or entity's legal responsibility to compensate another party for harm or loss caused by their actions or negligence. This liability arises in civil law cases, as opposed to criminal law, where the focus is on punishment. Civilly liable parties may be required to pay damages or fulfill contractual obligations, depending on the nature of the case. The goal is to provide restitution to the injured party rather than to punish the wrongdoer.
Your company is considering whether or not to sue a supplier of faulty goods there's precedent on similar facts the supplier was held liable explain the extent to which reliance may be placed upon?
Answering "Your company is considering whether or not to sue a supplier of faulty goods there's precedent on similar facts the supplier was held liable explain the extent to which reliance may be placed upon?"
What is the effect of instant messaging on organizational networks?
Anything done on an organizational network is subject to surveillance and the company is held liable, whether it is a personal chat or not.
What is INCS?
incorporatedINC stand for Incorporated.This means a company is legally in business and their are specific stipulations in regards to protection of the owners,CEO and or board members. In a corporation, stockholders, directors and officers typically are not liable for their company's debts and obligations. They are limited in liability to the amount they have invested in the corporation.
What are the responsibilities and obligations of a co-buyer on a car purchase?
A co-buyer on a car purchase is equally responsible for making payments on the loan and ensuring the vehicle is properly maintained. They are legally obligated to fulfill the terms of the loan agreement and may be held liable if the primary buyer fails to make payments.
What insurance company is liable if a pedestrain is hit by a car?
The driver who hit the pedestrian is liable, not their insurance company. The drivers insurance company will normally be responsible for payment of valid claims up to the policy limits for which the their insured driver is found liable.
Should a company be liable if an unauthorized employee signed a contract under the company?
No , if an employee has committed fraud and signed a contract under the company knowingly unauthorized then the company may not held liable.
