Questions tagged [liability]

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3answers
215 views

is high credit score an asset? [duplicate]

A quick definition of asset is a useful or valuable thing, person, or quality. Can a high credit score be thought as an asset ? I am not asking what can I do with my credit score, I am simply asking,...
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1answer
81 views

Liability of the acquiring company

Company B was bought by company A. A few years after company B was sued for things it did before its acquisition. Is company A always responsible for all the fines and damaged caused by the ...
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2answers
262 views

Create a limited company to speculate with leverage

I live in the UK and I am considering starting to trade on the stock market, having opened an account at a brokerage firm. I am considering using it to speculate on short term period with leverage. ...
88
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6answers
29k views

I co-signed on an apartment for a now ex-boyfriend who refuses to pay. What can I do?

I co-signed on an apartment with my ex-boyfriend when I was 18 and he was 21. We broke up. I am now 26 and it has been in collections for years. He refuses to help pay the debt. I am now stuck with ...
59
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6answers
12k views

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
2
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1answer
237 views

Liability for our son's car loan [duplicate]

My husband and I have co-signed for our son's car loan, and also he is listed on our car insurance coverage. If he gets in an accident, can we be sued?
6
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2answers
179 views

How to get liability insurance for an electric kick scooter in California?

I just purchased a Segway Ninebot ES4 electric kick scooter. I'm from the Netherlands but live in the United States (California). I have a global liability insurance but it excludes motorized ...
1
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0answers
27 views

Liability of Open Ended Investment Company in Ireland

As fas as I was able to find in web, there are three main company types in Ireland: Limited companies Unlimited companies Funds I need to know a liability of the shareholders of Open Ended ...
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3answers
197 views

Should I get a release of liability statement before paying for damages?

A sink in my condominium overflowed without me realizing it, and water went into my neighbor's condo, below me. There's damage to her drywall, and I agreed to pay to have it replaced. I received ...
2
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1answer
68 views

Open accounts for a purpose without full ownership

There are several types of accounts that I would like to pay into and never payout from until a certain need arises, however I am not sure I have the discipline to not tap into them in-case of ...
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0answers
40 views

Meaning of negative stockholder equity [duplicate]

In McDonald's 2016 annual report Balance Sheet, it shows Total Liabilities is greater than Total Assets. So it's Total Stockholder's Equity appears to be negative, with these fields reported as ...
2
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2answers
330 views

Debt to asset ratio calculation

When try to calculate debt-to-asset ratio, I came across different formulas. There are: Total debt divided by total asset, where Total debt = short-term debt + long-term debt from Balance Sheet. ...
3
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2answers
235 views

If I have a credit card under my name, but it's my husband's account, does it automatically mean I'm liable for the credit?

My husband has a credit card (under his name - the account was not opened jointly). He had the bank issue an extra card in my name. However, I never signed any documents to become the account owner. ...
4
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1answer
506 views

Are consumers liable for fraud related to bank account and routing numbers?

There's a ton of information about liability related to fraudulent debit and credit card charges, and even a little about fraudulent checks, but I'm having trouble finding similar information about ...
2
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2answers
8k views

How do I remove one or more names from the title on my car in California

I am trying to remove my sister's name from my car which currently has my name and her's on the title. I can't seem to find information on this at the dmv website apart from Notice of Transfer and ...
6
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1answer
175 views

Is “Verified by Visa” a setback compared to previous CC contracts?

My credit card contract features customers protection against fraudulent use of my credit card. I can use chargebacks to protect me, e.g. in case somebody stole my credit card details. Recently ...
4
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2answers
7k views

Is a website/domain name an asset or a liability?

To what extent can one consider a domain name and/or website to be an asset vs. liability? Clearly the people who have websites that do make big profits off of them consider them to be valuable, ...
3
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1answer
124 views

Full amount spent on Liabilites GNU cash

I would like to have a total of just the charges on a liability such as a VISA card. Take out the payment data.
1
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2answers
177 views

Can owners of stocks of an incorporated business traded on the stock exhange be liable for company's debts?

I asked this question before but I was not very specific in the terms I used back then. I now have a clearer idea and know the subject a bit better so I thought to ask a more precise question. As the ...
1
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2answers
221 views

Renters Liability in Case of Liability Claims for Property Damage or Fire

I am subleasing a room in a house in San Francisco. The landlord does not turn on the central heater ever, so I am running my space heater occasionally. In case of the unlikely event of a fire being ...
4
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1answer
468 views

DMV lists me as having the title of a 1972 Dodge that I have never had

I moved back to Florida last year after moving out of the state back in 1995. Since my birthday is coming soon I logged into the Florida DMV to check about renewing my license plates (I have ...
2
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3answers
5k views

Am I liable for an auto accident if I'm a cosigner but not on the title, registration, or insurance policy?

I co signed on a bank loan to finance the purchase of a car for my brother in Florida. Only his name is on title, registration and insurance policy. Would I be liable and can I be sued by another ...
0
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1answer
82 views

Auto liability insurance and underinsured policy

I live in MA. Recently I was in an accident where the over driver was at-fault 100% and is not contesting this. I was moderately injured and had several dr appoints and tests for broken ribs and being ...
0
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1answer
4k views

How to take off my name from Car Title in California

The car was paid off and the title is under my name and my ex wife. I want my name off from that car because I don't want to be responsible for any liability if she got in accident. But She wont go ...
1
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1answer
657 views

Does using a personal credit card pierce the corporate veil for single member LLC?

I am trying to completely separate my spouse's business from our personal finances. He is doing business as a single owner LLC / disregarded entity. Can he use an existing credit card in his name ...
2
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2answers
722 views

What would be my tax liability in Zurich, Switzerland?

What would be my tax liability as a single individual, resident of Zurich (not citizen), not a member of any church, with a 90,000 Swiss Franc yearly salary? Let's just take into consideration basic ...
4
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2answers
201 views

Set off computer against tax liability

I'm an employed programmer, officially not working from home. A friend told me, that you can set off your personal computer and up to specific values, you would not have to prove your work related ...
4
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2answers
306 views

Double entry for mortgage

Q. What entries should be made for mortgage and interest only repayments? For info I use GnuCash. Situation: I have an interest (repayment) only mortgage of, say, £50,000. They added their fees to ...
8
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3answers
1k views

Does liability auto insurance protect any of your assets?

I'm confused about the Liability auto insurance. Some online resources appear to say that you must have as much liability insurance as the total value of all your assets, whereas others just say to ...
1
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1answer
117 views

Value of a collateralized asset

I own a duplex and a business I am a part of wants to purchase more property. In order for the business I am involved in to get the loan needed I was given the option to put up my duplex as ...
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2answers
222 views

Tax liability in US for LLC's owned by an Indian Citzen

I am located in Pune, India and looking forward to form an LLC (Service Industry) in FL only as a face for my Indian Company in the US market. My clients would be making the payments in my Indian Bank ...
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1answer
981 views

few question about debit credit and liabilities [closed]

i have few question about accounting terms, please help me to figure it out these term and debit and credit flow to our company account. 1) i sold 500$ cost products on account, buyer will pay me in ...
1
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1answer
231 views

Liability insurance for hobby

Maybe I'm paranoid or something but it is hard not to be one when all you see in the news how some people sue others based on ridicules charges and then settle for millions. My situation: I work full ...
3
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2answers
235 views

Method for calculating the wisest amount of liability to purchase for car & home insurance?

I've seen the advice to get enough liability insurance as you have in total assets, i.e. if your owned home, owned car & savings = $100,000, then get $100,000 liability coverage. What is the ...
8
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3answers
399 views

When driving in the USA, how do I insure against large third party claims?

I've been looking into travelling to the USA (CA specifically) later this year, and hiring a car whilst I'm there. As I understand the American legal system, if I should get into an accident and be ...
8
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3answers
2k views

Why would a person not want to purchase a Personal Liability (Umbrella) insurance policy?

I was recently introduced to the concept of the PLP (specifically in the context of providing a globally-following umbrella policy to my renters' and auto insurance). After examining the policy and ...
2
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1answer
249 views

PV problem: lump sum payoff or continue quarterly payments

I am is faced with a choice of two alternatives. There really is no right or wrong answer, I just want to hear someone else's input/methodology. Here are the two choices: Keep paying $5,722.56 for ...
9
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1answer
213 views

Is it legally safer to purchase a short sale instead of a foreclosure?

I'm considering purchasing a home, and given todays market I've been viewing a lot of foreclosures and short sales. That being said, I have a question on short sale VS foreclosure in terms of legal ...
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1answer
2k views

How to compute the present value of a liability

There is a liability which will owe x dollars per year in n years with interest rate r (annual compounding). Is the present value of this liability given by: sum(x/(1+r)^i) or sum(x(1+r)^i) In ...
4
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2answers
2k views

Stolen Social Security number used to obtain MasterCard - does my friend owe any money?

So... my friend just told me that someone used his SSN to create a MasterCard and used around $6000. So he needs quick money from me. I personally do not understand how. Even if someone can make a ...