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The term severally liable means that a person, company, or place is responsible for the upkeep of an establishment, property, or service. If the person, company, or place is not following the responsibilities they are liable which means they can be sued for money.
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What does severally mean?
The term severally liable means that a person, company, or place is responsible for the upkeep of an establishment, property, or service. If the person, company, or place is not following the responsibilities they are liable which means they can be sued for money.
Can you get child support if you are making money then he?
Yes; parents are jointly and severally liable for the support of their children.
What is oe important difference between a general partnership and a limited partnership?
Any general partner is jointly and severally liable for all debts of the general partnership; limited partners are not liable. This means that all general partners are equally liable for partnership debts and any creditor can go after any of the partners to collect. Limited partners are not liable beyond their contributions.
What is the comparative form of severally?
more severally
If you car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
Sue them both, plus the driver, plus their respective insurance companies, and let the court find them "jointly and severally liable," so you don't care which one of them actually has to pay.
Do the Irish use the word severally?
Ypu are severally uneducated to think we dont
What is the difference between an ordinary partnership and an extraordinary partnership?
ordinary:in an ordinary partnership the partners are jointly and severally liable for the debts of the undertaking. extra ordinary:where the liability of the partners towards third parties are limited
What are the advantages and disadvantages of a partnership businesses?
Some advantages of a partnership business is that the gains and losses are shared, you share the resposibilities, and it's easy to set up. But some disadvantages to a partnership business is that each partner is 'jointly and severally' liable for the partnership's debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts, there is a risk of disagreements and friction among partners and management, and each partner is an agent of the partnership and is liable for actions by other partners
Can a non wage garnishment be placed on a llc?
Yes it can. If the creditor files a wage garnishment to a protected LLC and that LLC fails to respond or respond properly, a court can and will hold the LLC jointly and severally liable for the entire debt owed to the creditor.
What is it called when each person is liable for all debts of the business?
Jointly and severally is a legal term describing a partnership in which individual decisions are bound to all parties involved and thus undivided. If any partner is unable to share in a debt the others become responsible for that partner’s share.
Is the root word of severally several?
yes
What does you are a person who is liable to be detained mean?
it means that you are liable (or most likely) to be detained (or arrested/ placed into custody). Hope this helps
