Liability Exposure Within Multiple Businesses - 2028 Words

There is always liability exposure within multiple businesses, There is always the personal risk of exposure to liability, this is considerably high; being a sole proprietor, they assumes unlimited personal liability, also for breach of contract lawsuits. Under this business entity all personal assets or put at risk for the sake of the organizations itself. liability deal with certain responsibilities of one party or a group of an organization that deals with financial compensation, a sole proprietorship is a business or business owned and operated by one individual (Mancuso, 2014). A number of business operations and behaviors can create liability exposure for diverse organizational structures. There is limited partnership in some businesses this is being sued for breach of contract, there is personal risk of exposure to liability, it can be moderate to a general partnership, this can mean property, now, and severe liability can mean individual property that is levied on partnership property that has been exhausted. Liability is not always based on intentional actions or even being negligence, sometimes liability can even be a way to brokers the peace between certain parties, rather than an injured party using more serious action (Mancuso, 2014). There is always a personal risk of exposure to liability, this is considerably high; both the partnership property (organizational assets) and individual assets are at risk; however, only a portion of the lawsuitShow MoreRelatedLiability Exposure Within Multiple Businesses2113 Words   |  9 PagesLiability exposure within multiple businesses, There are personal risk of exposure to liability this is considerably high; the sole proprietor assumes unlimited personal liability for the breach of contract lawsuit and, under this business entity, puts all personal assets at risk for the sake of the organization itself. Liability had to deal with certain responsibilities of one party or a group of an organization that deal with financial compensation. A sole proprietorship is a business or businessRead MoreThe Problem Of The Medical Marijuana Industry1410 Words   |  6 Pagesstaggering growth in recent years with many state level legalizations and the federal memo issued in 2013 that told prosecutors to leave these businesses alone, as long as they comply with all their state laws. Colorado was the first state to legalize marijuana for recreational purposes and marijuana infused edibles soon became a rapidly growing element within the marijuana industry. As such, states are struggling to write effective legislation and create adequate testing and identification to addressRead MoreProposed Changes Of The Accounting Infrastructure Reform Bill871 Words   |  4 Pageson auditors. The Accounting Infrastructure Reform Bill includes proposals to change this rule and allow members of accredited professional bodies to perform statutory audits. The Reform Bill is also proposing other methods for auditors to limit liability. 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