Shareholders' Assumption of Personal Liability, as Guarantors, for the Obligations

question 143

True/False

Shareholders' assumption of personal liability, as guarantors, for the obligations of a corporation can enable the firm to obtain credit.

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Definitions:

Prison

An institution for the confinement of people who have been remanded in custody or convicted of crimes, serving as a form of punishment and rehabilitation.

Despotism

A form of government where a single entity rules with absolute power, without any democratic processes or checks and balances.

Civil Constitution

Governing document or set of fundamental principles that outlines the structure and practices of a governmental entity.

French Clergy

The body of priests, deacons, and other religious officials who serve the Catholic Church in France.