Question

what is liability and what does it mean to have personal liability for a company​

Answer 1

Liability is the state of being responsible for something, especially by law and being personal liable means that a plaintiff who wins a court judgment against your business can satisfy it out of your personal assets l, like your bank account, home, or automobile simply because of your status as an owner of the business

Answer 2

Answer:

Liability is a legal term for being held accountable and obligated to fulfill a commitment.

A business owner who has personal liability for a company can be held personally accountable for the financial debts and illegal actions of the company.

Explanation:

edg 2021

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