law

Limited and Unlimited Liability – Business Entities

BUSINESS LAW Limited and Unlimited Liability Cleverness In This Article What Does ‘Liability’ Mean? Unlimited Liability Limited Liability What Does ‘Liability’ Mean? Liability means that someone is legally responsible for the debts or actions of the business. Unlimited Liability This usually refers to Sole Proprietors and Partnerships where the business owners are fully responsible (liable) […]

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