Craig Hudson it can because if the business gets sued and you are in a partnership you get sued and if it owes money you have to pay even by losing your house.
Hannah Cole unlimited liability has terrible consequences because if your business goes into debt the owner is responisble and may have to give up own possesions to pay the debt of, also if your business goes bankrupt or the business is sued the owner loses the business or is sued
if the business gets into debt then all the owners will get sued becuase they are responsible for the debts and then you will end up paying the a very large fine with even your house if you dont have the money.
Unlimited liability can have terrible consequences for example if your business went into debt then you as the owner would be fully responsible to pay them off with no support.
The owner will be held personally responsibly for any debts by the company. this can lead to the owner loosing personal items such as their home. furhter more if the company gets sued so does the owner and even a co-onwer meaning they all can loose homes, money or any personal items.
Unlimited liability can have terrible consequences because if your business goes into debts you as the owner are fully responsible to pay off your debts
The have terrible consequences such as if you get in to debt you may have to sell valuable belongings such as houses wedding rings if it is necessary. Also even if your partner gets into debt you may be asked too pay off their debt. This is quite unfair.
Lace Collett Unlimited liability can have bad consequences such as if the business goes in to debt, the owner might have to sell their personal belongings in order to pay off the debt. This is because in the eyes of the law the owner and the business are the same thing.
The problem with a sole owner ship, is that you have unlimited liability, you entirely tied to the business, so if the business becomes bankrupt, then you will have you use your own money to pay for things, i.e. you are tied to it.
Unlimited liability can have terrible consequences because as the owners have equal legal identities, if the business gets into debt the owners are personally responsible for everything.
the consequences that unlimted liability has is that when a business gets sued, so does the owner. and if the business gets bankrupt, so does the person, if in debt, the owner is, and can get there persanal belongings seized, to pay of debts, such as houses, tv's, cars ext...
Max Carrington: unlimited loiability means that if your business fails, the owners wiould have to sells all of their possesions or they would have to repossess thier belongings. if your business has two owners, they will have the same legalidentity, this means that both of the owners will face their belongings being sold or repossessed.
Ed Skeates: Unlimited liability means that if your business fails, they would have to sell, or even repossessed. All of their personal belongings if necessary to pay off all of the debts that they have collected by the business. If your business has two owners you both have the same legal identity, which means that both of the owners will face having all of their possessions repossessed or sold.
Sir Mitchell Lucas. The business and the owner have the same legal identity and if the business gets into debt then it is the owners responsibility to pay the debt back. The owner is also sued when the business is sued.
chloe orange. erm yes because if the business gets into debt then all of the owners of the business is in debt and may have too pay out the money if the other partner cannot! x
there are some concequences for owning your own business . If some one sews you , you could loose your business and some of your valubles and if you are in partnership and one of you has know more money or is debt the other person in business with you has to pay it for you unless you sign a agreement at the start of the business.
Joshua Best. Unlimited Liability can have negative consequences because the business and its owner share legal information - so if the owner got into legal trouble, (or other problems such as heavy debt) the business would be affected as well.
In this lesson i have learnt today how to post something and then it should come up on the twitter you are on.:)
ReplyDeleteBILLY SMITH (dobby)
ReplyDeletethe terrible consequences of having unlimited liability is that the owner is personal responsible for all of the debts
Craig Hudson
ReplyDeleteit can because if the business gets sued and you are in a partnership you get sued and if it owes money you have to pay even by losing your house.
Hannah Cole
ReplyDeleteunlimited liability has terrible consequences because if your business goes into debt the owner is responisble and may have to give up own possesions to pay the debt of, also if your business goes bankrupt or the business is sued the owner loses the business or is sued
if the business gets into debt then all the owners will get sued becuase they are responsible for the debts and then you will end up paying the a very large fine with even your house if you dont have the money.
ReplyDeleteJoe Blight (meat)
ReplyDeleteUnlimited liability can have terrible consequences for example if your business went into debt then you as the owner would be fully responsible to pay them off with no support.
Mason king
ReplyDeleteThe owner will be held personally responsibly for any debts by the company. this can lead to the owner loosing personal items such as their home. furhter more if the company gets sued so does the owner and even a co-onwer meaning they all can loose homes, money or any personal items.
Ian Burden
ReplyDeleteUnlimited liability can have terrible consequences because if your business goes into debts you as the owner are fully responsible to pay off your debts
Charlie Nasri.
ReplyDeleteThe have terrible consequences such as if you get in to debt you may have to sell valuable belongings such as houses wedding rings if it is necessary. Also even if your partner gets into debt you may be asked too pay off their debt. This is quite unfair.
Lace Collett
ReplyDeleteUnlimited liability can have bad consequences such as if the business goes in to debt, the owner might have to sell their personal belongings in order to pay off the debt. This is because in the eyes of the law the owner and the business are the same thing.
Dayna Potter
ReplyDeleteThe problem with a sole owner ship, is that you have unlimited liability, you entirely tied to the business, so if the business becomes bankrupt, then you will have you use your own money to pay for things, i.e. you are tied to it.
Oliver Wearing.
ReplyDeleteUnlimited liability can have terrible consequences because as the owners have equal legal identities, if the business gets into debt the owners are personally responsible for everything.
mike sanders.
ReplyDeletethe consequences that unlimted liability has is that when a business gets sued, so does the owner. and if the business gets bankrupt, so does the person, if in debt, the owner is, and can get there persanal belongings seized, to pay of debts, such as houses, tv's, cars ext...
Max Carrington:
ReplyDeleteunlimited loiability means that if your business fails, the owners wiould have to sells all of their possesions or they would have to repossess thier belongings. if your business has two owners, they will have the same legalidentity, this means that both of the owners will face their belongings being sold or repossessed.
Ed Skeates:
ReplyDeleteUnlimited liability means that if your business fails, they would have to sell, or even repossessed. All of their personal belongings if necessary to pay off all of the debts that they have collected by the business. If your business has two owners you both have the same legal identity, which means that both of the owners will face having all of their possessions repossessed or sold.
Sir Mitchell Lucas.
ReplyDeleteThe business and the owner have the same legal identity and if the business gets into debt then it is the owners responsibility to pay the debt back. The owner is also sued when the business is sued.
chloe orange.
ReplyDeleteerm yes because if the business gets into debt then all of the owners of the business is in debt and may have too pay out the money if the other partner cannot! x
i like cheese
ReplyDeleteSavannah Ward
ReplyDeletethere are some concequences for owning your own business . If some one sews you , you could loose your business and some of your valubles and if you are in partnership and one of you has know more money or is debt the other person in business with you has to pay it for you unless you sign a agreement at the start of the business.
Joshua Best.
ReplyDeleteUnlimited Liability can have negative consequences because the business and its owner share legal information - so if the owner got into legal trouble, (or other problems such as heavy debt) the business would be affected as well.