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| Topic: |
Technology
|
| Number of pages / Number of words: |
5 / 1361 |
Essay's paper body
The creditors have recourse only to the assets of the company, and cannot look beyond that (unless the directors have acted outside their authority as directors or in certain other circumstances where they may be personally liable). Each partner in a partnership is personally liable for the debts of the partnership down to the shirt on his back...
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Each partner in a partnership is personally liable for the debts of the partnership down to the shirt on his back. That applies even when he knows nothing about the debt, for example if another partner commits the partnership to it, or someone makes a successful claim against the partnership.
Single legal person
A company is a single legal person (known as a body corporate), able to make contracts through its directors or other staff...
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General points of the essay
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Board of Directors Duty
Company Comparison
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