liable for the company's debts
51Forms of ownership — A form of ownership is the manner in which * an undertaking or enterprise is managed and controlled; * capital is contributed; * risks are borne; * profits are divided; and * legal personality affects the business.ole… …
52United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …
53liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid …
54partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro …
55Legal fiction — In the common law tradition, legal fictions are suppositions of fact taken to be true by the courts of law, but which are not necessarily true. They typically are used to evade archaic rules of procedure or to extend the jurisdiction of the… …
56Insolvency — means the inability to pay one s debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts. Business insolvency is defined in two different ways: Cash flow insolvency Unable… …
57insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …
58Corporate law in Vietnam — Vietnamese corporate law was based on the French commercial law system. However, since Vietnam s independence in 1945, it has largely been influenced by the ruling Communist Party. Currently, the main sources of Corporate Law are the Law on… …
59Ansvarlig selskap — Companies law Company  …
60Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …
