Full liability for the debt and other obligations of a legal entity. Generally, partners of a partnership and sole propietors have unlimited liability. ...
liability of general partners and sole proprietor owners of a company extending to their entire assets, including personal property.
Definition: Owners of a business may have to sell off some or all of their personal possessions to meet the debts of the business because there is no limit to the amount of claims that can be made against them.
The obligation of an owner to pay his creditors from his personal assets if his company cannot pay its debts. This term is in contrast to Limited Liability.
Unlimited Liability Complete liability for any debt or other dues of a legal entity. For example, a partnership's general partners have an unlimited liability towards the partnership's obligations.
unlimited liability: full responsibility for the obligations of a general partnership
unsecured debt: money borrowed without supplying collateral
upsell: to sell customers a higher-priced version of a product they have bought previously ...
Unlimited liability: In most limited partnerships, the general partner will collect fees and own a percentage of the partnership (in the form of limited partnership interest).
Unlimited liability A legal concept whereby the personal assets of the owner of a firm can be seized to pay off the firm's debts.
Util A representative unit by which utility is measured.
Unlimited liability - Where the owner of a business is personally liable for all business debts.
Urban population - The number of people living in urban areas as a percentage of the total population ...
ULC - Unlimited Liability Corporation - A corporate structure that permits a company to be incorporated and flow all profits and losses to shareholders.
UNLIMITED LIABILITY: A condition in which owners are personally held responsible for any and all debts created by a business. Proprietorships and partnerships are the two kinds of businesses in which owners have unlimited liability.
Unlimited liability of partners
The unlimited liability of partners is the legal relationship among general partners of a partnership that makes each general partner responsible for paying all the debts of the partnership if the other partners are ...
Unlimited Liability (business term)
Incentive Fee (finance term)
Limited Liability (finance term)
Subscription Agreement (finance term)
Hedge Fund (business term)
Partner (business term)
Mini-Warehouse Limited Partnership (finance term) ...
A type of business where owners share joint and several responsibility for the entire amount of debt and other liabilities amassed by the business.
A business where the owner has no limit to his losses should the company fail. This is in contrast to a company with limited liability where...(Read more)
Unlisted Securities ...
The discount rate appropriate for an investment that it is financed with 100% equity.
Unlimited liability ...
UNLIMITED LIABILITY -- Liability of an investor which extends to the full extent of his personal assets, as in the case of a sole proprietor or general partner.
A partner who has unlimited liability for the obligations of the partnership.
A partnership in which all partners are general partners.
A partnership has unlimited liability. The partners are jointly liable for all debts and other liabilities of the business. If the business is sued, all the business and personal assets of the partners are at risk.
General partner A participant who has unlimited liability for the obligations of a partnership.
General partner A participant who has unlimited liability for the obligations of a partnership. General partnership A partnership in which all participants are general partners.
The owner of the business has unlimited liability for the debts incurred by the business.
Partnership: A partnership is a for-profit business owned by two or more people.
In traditional partnerships the partners had unlimited liability i.e. they were jointly responsible for the debts of their partnership. In 2001 this has been altered so that some large partnerships e.g. accountancy firms can have limited liability.
Under the umbrella of a joint stock company, all shareholders have unlimited liability, yet the company's stock is fully transferable. The capital of a joint stock company is pooled into a common fund formed by individual shareholder contributions.
No logical necessity links partnerships with unlimited liability or corporations with limited liability. Legal rules do not suddenly spring into existence full grown; instead, they arise in a particular historical context.
The name of the general partner with unlimited liability may not be left out.
Kommanditgesellschaft auf Aktien ...
Limited liability partnerships can be created so that only at least one person has unlimited liability, offering similar protection as owners of a corporation.
Since all partners have unlimited liability, even innocent partners can be held responsible when another partner commits inappropriate or illegal actions.
A participant who has unlimited liability for the obligations of a partnership.
Common stock of a company that has an opportunity to invest money and earn more than the opportunity cost of capital.
General Partner: The partner with unlimited liability.
Generally Accepted Accounting Principles (GAAP): The set of standardized rules established for the reporting of a project or company's financial results for accounting purposes.
Companies can be formed with the shareholders having unlimited liability.
Corporation: A corporation is either a limited or unlimited liability entity that has a separate legal personality from its members. A corporation can be organized for-profit or not-for-profit.
A limited partnership is a business entity created by means of a state filing where at least one partner is a general partner with unlimited liability and at least one partner is a limited partner whose liability is limited to the amount of his/her ...
Hybrid form of " joint-stock company (" corporation) and limited partnership (partnership): at least one partner has unlimited liability (general partner); ...
A partnership in which one group of persons or one party, called general partners, having unlimited liability, manage the business and, another party or group of persons, called limited partners, ...
Limited Liability Corporation (LLC): In contrast to the unlimited liability inherent in proprietorships as a form of business ownership, ...
A partnership with at least one general partner and at least one, often more, limited partner(s). The general partner has unlimited liability for the debts of the partnership, ...
General Partnership. An ownership entity in which two or more partners are involved, and which results in unlimited liability for the owners, unlike a Corporation.
I understand Berkshire never takes on any unlimited liability there are always caps. And the chance of a major stock index being down over such a long period time is probably remote.
A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations.
Ability to meet obligations.
Partnership A form of organization with two or more persons associate to conduct a non-corporate business. Its main disadvantage is unlimited liability.
A partnership in which there is one general partner and one or more limited partners. The limited partners are liable only to the extent of their capital contribution to the partnership. The general partner has unlimited liability.
owned and operated by two or more persons, who, according to the agreement of the partnership, share the profits and the losses, and the responsibilities, and have general or limited liability. (At least one partner must have unlimited liability) ...
of the business cannot be sold, and there is a smaller sense of legitimacy relative to a business organized as a corporation or limited liability company. Hiring employees may also be difficult. This form of business will have unlimited liability, ...
General partner: The partner who has the responsibility to manage the business and affairs of a limited partnership, and who has unlimited liability.
The Limited Partnership Act of 1907 allows a partnership to contain one or more partners with limited liability so long as there is at least one partner with unlimited liability. A partnership consists of not more than 20 persons.
LIMITED LIABILITY CORPORATION (L.L.C.) A form of business ownership whereby the liability is limited to an investor's original capital investment, as opposed to a general partnership under which the partner or owner has unlimited liability.
See also: Index, General partner, Transaction, Proprietorship, Banks