How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Jane T (LLC) Your Own Question

Jane T (LLC)
Jane T (LLC), Former straight A Student - Now Mom
Category: Homework
Satisfied Customers: 8435
Experience:  Degrees in Eng., econ; JD (law), MBA, former valedictorian & winner of academic scholarship
Type Your Homework Question Here...
Jane T (LLC) is online now
A new question is answered every 9 seconds

What Entity is liable for a corporations debts?

Customer Question

What Entity is liable for a corporation's debts?
Submitted: 4 years ago.
Category: Homework
Expert:  Jane T (LLC) replied 4 years ago.

Jane T (LLC) :

Hi, a corporation that legally established is considered a legal person - this means that the debts of a corporation belong only to the corporation, not to its shareholders or employees. The entity that is liable for a corporation's debts is the corporation itself.


Thank you for that explanation!

Jane T (LLC) and 2 other Homework Specialists are ready to help you
Expert:  Jane T (LLC) replied 4 years ago.

You are welcome.



Related Homework Questions