Assertion: partnership's partner | /r/HasProperty | liable
Facets:
value: personally
type: MANNER
value: jointly
type: DEGREE
value: for obligations
type: CAUSE
value: for debts
type: CAUSE
value: in a general partnership
type: OTHER
value: for actions
type: CAUSE
value: for the payment of the debts
type: PURPOSE
value: for the remainder of the debt
type: OTHER
value: for judgments
type: PURPOSE
value: individually
type: MANNER
value: to the amount
type: OTHER
value: for damages
type: PURPOSE
value: for each other
type: TRANSITIVE-OBJECT
value: for limited partners
type: TRANSITIVE-OBJECT
value: for debts of the business
type: PURPOSE
value: in other words
type: OTHER
value: for liabilities
type: CAUSE
value: for contract and intentional tort claims
type: CAUSE
value: for their own taxation
type: PURPOSE
value: apart from those
type: OTHER
value: except caused damages
type: OTHER
value: fully
type: DEGREE
value: according to the uniform partnership act
type: OTHER
value: for any loss
type: TRANSITIVE-OBJECT
value: without limit
type: OTHER
value: for inactions
type: CAUSE
value: for the obligations of the entity
type: PURPOSE
value: for business contracts
type: PURPOSE
value: for those payments
type: PURPOSE
value: regardless of
type: OTHER
value: in this type of organizational structure
type: OTHER
value: for their own behavior
type: CAUSE
value: in some states
type: LOCATION
value: jointly
type: MANNER
value: to business creditors
type: TRANSITIVE-OBJECT
value: for any profits
type: PURPOSE
value: equally
type: DEGREE
value: for lawsuits
type: PURPOSE
value: for lawsuits against themselves
type: PURPOSE
value: like the sole trader model
type: OTHER
value: for the capital
type: TRANSITIVE-OBJECT
value: as group
type: MANNER
value: for all court judgements
type: OTHER
value: for the assets
type: PURPOSE
value: for responsibilities
type: PURPOSE
value: for his or her own negligence
type: CAUSE
value: for decisions
type: PURPOSE
value: for a business’s finances
type: PURPOSE
value: as a partner
type: MANNER
value: for their own wrongful acts
type: CAUSE
value: for torts
type: TRANSITIVE-OBJECT
value: as in a sole proprietorship
type: OTHER
value: in england
type: LOCATION
value: for the obligations of the partnership
type: CAUSE
value: like sole proprietors
type: OTHER
value: severally
type: DEGREE
Source sentences:
text: That is, all partners are liable for their own actions on behalf of the company as well as the actions of the other partners.
text: Like sole proprietors, general partners are personally liable for the partnership's obligations and debts.
text: The partnership is the first target for any suit, although a specific partner could be liable if they personally did something wrong.
text: All the partners are liable for the payment of the debts, even if they have to liquidate their personal assets.
text: All the partners are liable for the payment of the debts, even if they have to liquidate their personal assets.
text: general partnership: a partnership in which all partners manage the business and are personally liable for its debts.
text: One or more people called general partners, who are liable for all debts and obligations of the firm; and
text: Even if you don't intend to be a partnership, if that's how you hold yourself out to the public, then your relationship will be deemed a partnership and all partners will be liable for the obligations of the partnership (see liability issues below).
text: Partners are personally liable for the business obligations of the partnership.
text: partners are individually liable for business debts
text: In a limited liability company (LLC), general partners are responsible for the daily management of the limited partnership and are liable for the company's financial obligations, including debts and litigation.
text: The general partner is also fully liable for the debts and liabilities of the partnership because the general partner has responsibilities and control and makes decisions that affect the partnership.
text: Partners in the formation are personally liable for the entity’s debts and obligations, including all court judgments.
text: Perhaps the biggest drawback is that each partner is jointly and severally liable for the debts and obligations of the business.
text: That means each partner is liable for any debts of the partnership or of any partners on behalf of the business.
text: That means each partner is liable for any debts of the partnership or of any partners on behalf of the business.
text: In a general partnership, each partner is fully personally liable for the debts, contractual obligations, and torts resulting from the partnership's operation, just as in a sole proprietorship.
text: Partners are still liable for their own wrongful acts.
text: Not only may the non-partner be held to be liable as a partner, the true partners will also be liable for the non-partners actions just as they would be for the actions of a true partner.
text: Not only may the non-partner be held to be liable as a partner, the true partners will also be liable for the non-partners actions just as they would be for the actions of a true partner.
text: Within a general partnership, all partners are liable for a business’s finances.
text: For example, partners are still liable for the profits of the business and will have to report the partnership's income on their tax returns.
text: Because partners are each personally liable for the company's obligations, the business partners need to be selected carefully and with care.
text: On the other hand, a general partner is liable for any debts or legal judgments against the company.
text: Every partner is personally liable for any company debts and responsibilities.
text: In a general partnership, each partner is liable for the activities of the other partners, while only the general partner (who runs the business) is liable in a limited partnership.
text: In a general partnership, each partner is liable for the activities of the other partners, while only the general partner (who runs the business) is liable in a limited partnership.
text: Thus, this partner is only liable for the assets this person contributes to the partnership.
text: First, partners are personally liable for all business debts and obligations, including court judgments.
text: In a general partnership, individual partners are liable for the partnership's debts and obligations whereas the partners in a limited liability partnership are statutorily provided full-shield protection from partnership liabilities, debts and obligations.
text: General partners are personally liable for the business's debts and judgments against the business; they can also be directly involved in the management.
text: General partners are personally liable for the business's debts and judgments against the business; they can also be directly involved in the management.
text: Partners are personally liable for all court judgements and business debts.
text: There are three obligations to a partnership: 1) Each partner is liable for their own actions; 2) Each partner is liable for actions taken by the other partners; 3) Each partner is liable for actions taken by employees on behalf of the business.
text: There are three obligations to a partnership: 1) Each partner is liable for their own actions; 2) Each partner is liable for actions taken by the other partners; 3) Each partner is liable for actions taken by employees on behalf of the business.
text: There are three obligations to a partnership: 1) Each partner is liable for their own actions; 2) Each partner is liable for actions taken by the other partners; 3) Each partner is liable for actions taken by employees on behalf of the business.
text: Partners are individually liable for debts incurred by a partnership during business operations.
text: Partners are liable as group when the partnership is sued.
text: However, lawsuits may still be filed against the partners by name, the general partners are still exposed to 'pass-through' liability, and partners are still jointly and severally liable (although in the case of limited partners, only to the extent of their capital contribution).
text: Any partners involved in wrongful or negligent acts are still personally liable, but other partners are protected from liability for acts committed by another.
text: In a limited partnership the general partners are liable for all debts and obligations of the firm while the limited partners are liable only for the capital they contributed to the firm.
text: In a limited partnership the general partners are liable for all debts and obligations of the firm while the limited partners are liable only for the capital they contributed to the firm.
text: General partners can be personally liable for all the debts in the partnership whereas limited partners are only liable up to the amount they initially invest in the business.
text: General partners can be personally liable for all the debts in the partnership whereas limited partners are only liable up to the amount they initially invest in the business.
text: Depending on the type and amount of participation in the business, partners may be liable for debts of the business and for lawsuits against themselves personally.
text: Of course, any partners involved in wrongful or negligent acts are still personally liable, but other partners are protected from liability for those acts.
text: General partners, who invest in the partnership, participate in the day-to-day operations and are liable for debts and lawsuits of the partnership
text: General partners are liable for all debts and obligations of a business.
text: The partners, however, are jointly and severally liable for all the partnership's debts, except when only some partners' misconduct caused damages to another party — and then only if professional liability insurance is mandatory.
text: No partner is liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct.
text: A close equivalent to limited liability partnerships under Polish law is the spółka partnerska, where all partners are jointly and severally liable for the partnership's debts apart from those arising from another partner's misconduct or negligence.
text: Partners receiving income and/or gains from an LLP are liable for their own taxation.
text: However, a sizable minority of states only extend such protection against negligence claims, meaning that partners in an LLP can be personally liable for contract and intentional tort claims brought against the LLP.
text: Partners are liable for each other.
text: Each partner is liable for the others’ actions and debts, which makes it the riskiest part to starting a general partnership — and also means it’s very important to know the people you plan to go into business with.
text: Partners are ‘jointly and severally liable’ for the firm’s debts.
text: All partners are liable for the actions individual partners take on behalf of the firm.
text: Once a PVA has finished, the individual partners would be liable for the remainder of the debt and would be expected to pay it back.
text: It is a partnership owned by two classes of partners: general partners manage the enterprise and are personally liable for its debts; limited partners contribute capital and share in the profits but normally do not participate in the management of the enterprise.
text: In England partners are jointly liable for the debts and obligations of the firm whilst they are a partner.
text: Where there has been a wrongful act or omission, or a misapplication of money or property in receipt, every partner is jointly and severally liable.
text: A limited partner is only liable for the amount of money or property the partner contributed to the partnership.
text: In this type of organizational structure, each individual partner is personally liable for all debts and judgments against the partnership as a whole, regardless of whether the debt was incurred by the organization or one of the individual partners.
text: Some states take a middle ground, and limit personal liability for a partner’s negligence, as well as for partnership contracts and other debts (in other words, a partner is only personally liable for his or her own negligence).
text: In a general partnership, individual partners are liable for the partnership's debts and obligations whereas the partners in a limited liability partnership are statutorily provided full-shield protection from partnership liabilities, debts and obligations.
text: When a LLP takes out a loan, and a partner personally guarantees the loan, that partner is individually liable if the LLP defaults on the loan payment.
text: A sleeping partner is not actively involved in running the business but is jointly and severally liable for business contracts and debts.
text: For example, if you run into a cash flow issue and your business fails, neither partner will be personally liable for any debts owed to creditors.
text: Partners in a general partnership are liable for the debts of the partnership and for the actions of themselves and other partners.
text: An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners.
text: In a traditional limited partnership the general partners are jointly and severally liable for its debts and obligations; limited partners are not liable for those debts and obligations beyond the amount of their capital contributions.
text: Each partner is personally liable for all debts incurred by the business.
text: Like the sole trader model, in a general partnership the partners are personally liable for business debts and obligations.
text: In a partnership, each partner is jointly and severally liable for debts –
text: General partners are liable without limit for all debts contracted and errors made by the partnership.
text: If the business goes bankrupt or is sued, the limited partner is only liable up to his investment in the business and the business's assets.
text: The partners, however, are jointly and severally liable for all the partnership's debts, except when only some partners' misconduct caused damages to another party — and then only if professional liability insurance is mandatory.
text: No partner is liable on account of the independent or unauthorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner's wrongful business decisions or misconduct.
text: A close equivalent to limited liability partnerships under Polish law is the spółka partnerska, where all partners are jointly and severally liable for the partnership's debts apart from those arising from another partner's misconduct or negligence.
text: Partners receiving income and/or gains from an LLP are liable for their own taxation.
text: However, a sizable minority of states only extend such protection against negligence claims, meaning that partners in an LLP can be personally liable for contract and intentional tort claims brought against the LLP.
text: Partners are jointly and severally liable, just as they own the property in common.
text: A partner is jointly and severally liable for the debts of the others; there is no limited liability.
text: Limited partnerships are a form of partnership involving general partners, who are liable for all the debts and liabilities of the partnership, and limited partners, who are liable to the extent of their capital contribution to the partnership.
text: If an accident occurs with one partner during the course of conducting business, all partners are equally liable.
text: However, lawsuits may still be filed against the partners by name, the general partners are still exposed to 'pass-through' liability, and partners are still jointly and severally liable (although in the case of limited partners, only to the extent of their capital contribution).
text: A primary disadvantage is liability-each partner is personally liable for the financial obligations of the business.
text: A primary disadvantage is liability-each partner is personally liable for the financial obligations of the business.
text: Similar to a sole proprietorship, general partners are personally liable for the partnership's obligations and debt.
text: Limited partners are similar to shareholders in a corporation, and are only liable on debts incurred by the company to the extent of their registered investment.
text: In general, each partner in a partnership is jointly liable for the partnership's obligations.
text: Several liability means that the partners are individually liable.
text: In some states, each partner is both jointly and severally liable for the damages resulting from the wrongdoing of other partners, and for the debts and obligations of the partnership.
text: Every partner is liable for his or her own actions.
text: Every partner is liable for the actions of the other partners.
text: Every partner is liable for the actions of the employees of the business.
text: If partner A accidentally runs over somebody while making a delivery for the partnership, then A still has unlimited personal liability, but all three partners would be jointly and severally liable.
text: For example, you cannot state that each partner is only liable for decisions he individually approves.
text: According to the Uniform Partnership Act, each partner is liable for his own actions, but is also liable for the actions of the other partners and employees.
text: According to the Uniform Partnership Act, each partner is liable for his own actions, but is also liable for the actions of the other partners and employees.
text: In other words, the partners are personally liable for the actions (or inactions) of their partners, any losses or damages and any profits to the business.
text: Of course the partner would be liable to the other partners for any loss caused by his breach of the agreement to limit his powers.
text: This is unlike a limited partnership, where the general partners are jointly liable for all obligations of the partnership.
text: If the company fails to pay its creditors, for instance, the general partners are liable for those payments, but the limited partners are not.
text: In a regular general partnership, each partner is personally liable for the debts of the partnership.
text: The limited partner is only liable only for the amount that they have invested in the partnership.
text: All partners are liable for the actions individual partners take on behalf of the firm.
text: Once a firm trust deed has finished, the individual partners would be liable for the remainder of the debt and would be expected to pay it back.
text: Even in those that do, other partners may also take an active role in the management of the business and are all liable for business debts.
text: General partners control the company's day-to-day operations and are personally liable to business creditors.
text: Even though each partner is liable for his or her own portion of the taxes, a partnership still requires an employer identification number.
text: The limited partners have limited duties and decision making powers within the partnership, but are liable only for the amount of their investment.
text: Remember, partners of an LLP are only liable for their own behavior.
text: This also means partners are liable for each other’s actions.
text: Partners are liable for each other’s actions: If your business partner is sued, you can be sued with your partner.
text: Each partner is liable for the actions of other partners;