Assertion: partnership's owner | /r/HasProperty | liable
Facets:
value: personally
type: MANNER
value: for liabilities
type: CAUSE
value: for debts
type: CAUSE
value: for all debts
type: OTHER
value: for taxes
type: PURPOSE
value: for income taxes
type: TRANSITIVE-OBJECT
value: for legal actions
type: PURPOSE
Source sentences:
text: The owners of a general partnership are all personally liable for all debts and legal actions that the company may face.
text: In a general partnership, at least two people share ownership and each owner is liable for debts and liabilities associated with the business.
text: Instead, the owners—or unitholder investors—are only personally liable for income taxes on their portions of the MLP's earnings.
text: The owner—and the owner alone—is personally liable for all the debts, taxes, and liabilities of the business, including claims made against employees acting in the course and scope of their employment.
text: The owner—and the owner alone—is personally liable for all the debts, taxes, and liabilities of the business, including claims made against employees acting in the course and scope of their employment.
text: While owners of a business partnership are liable to the company’s debts, directors of a limited company are not personally responsible.
text: However, the owner is also personally liable for all financial obligations of the business.
text: However, the owner is also personally liable for all financial obligations of the business.
text: On the other hand, with a partnership, the business and its owners are not treated as legally separate, meaning owners are liable for business debts.