Sentences with phrase «joint liability for»

Federal laws restrict issuing credit cards to anyone under 21 unless the applicant has the independent ability to repay debt or has an adult co-signer who accepts joint liability for the account.

married Couples have a legal duty to support one another, and may have automatic joint liability for things like medical bills and shelter.

They argued they should be involved in all three proceedings because if the doctor who was named as the defendant in the first medical action «has any joint liability for the plaintiff's injuries then there will be no or minimal compensable loss that can be claimed in the solicitor's action.»

There is no joint liability for costs and a party is not obliged to pay the proportion of other claimants» costs if those claimants do not or can not pay.

If you have a co-signer, that person takes on joint liability for any card debts you incur.

Not exact matches

Macron has said he hopes to pool liability for various kinds of debt: a completed banking union would ensure bailout costs for individual financial institutions would be distributed across the continent rather than borne by individual countries, and the so - called Eurobonds would allow national governments to borrow money against a joint continental credit rating.

Tax filers who qualified for less than $ 300 of the full basic credit ($ 600 for joint filers) could get $ 300 ($ 600 for joint filers) if they had either (1) at least $ 3,000 in earnings, Social Security benefits, and veteran's payments or (2) net income tax liability of at least $ 1 and gross income above specified thresholds.

Most tax filers received a basic credit of $ 600 — or $ 1,200 for joint filers — up to their income tax liability before subtraction of child and earned income credits.

Mr. Schäuble, a member of Ms. Merkel's conservative Christian Democratic Union, told The Wall Street Journal last week that «as soon as we have a joint EU fiscal policy, we can consider joint liability» for governments» borrowing.

- eliminates joint and several liability provisions for «responsible persons»

Good government groups see the pension forfeiture measure as a token reform and have pressed for the closing of the «LLC loophole» that allows businesses to create multiple limited liability companies to donate virtually unlimited amounts of campaign cash; public financing of candidate campaigns; the end of lump sum appropriations in the budget; limits on political contributions by companies with business before the state; limits on legislators» outside income; and a renovation of Albany's ethics watchdog, the Joint Commission on Public Ethics (JCOPE).

After studying this chapter, you will be able to: Explain the basic nature of a joint stock company as a form of business organisation and the various kinds of companies based on liability of their members Describe the types of shares issued by a company Explain the accounting treatment of shares issued at par, at premium and at discount including oversubsription Outline the accounting for forfeiture of shares and reissue of forfeited shares under varying situations Workout the amounts to be transferred to capital reserve when forfeited shares are reissued; and prepare share forfeited account State the meaning of debenture and explain the difference between debentures and shares Describe various types of debentures; Record the journal entries for the issue of debentures at par, at a discount and at premium Explain the concept of debentures issued for consideration other than cash and the accounting thereof Explain the concept of issue of debentures as a collateral security and the accounting thereof Show the items relating to issue of debentures in company's balance sheet Describe the methods of writing - off discount / loss on issue of debentures Explain the methods of redemption of debentures and the accounting thereof Explain the concept of sinking fund, its use for redemption of debentures and the accounting thereof Topic List Features of a Company Kinds of Companies Share Capital of a Company Nature and Classes of Shares Issue of Shares Accounting Treatment Forfeiture of Shares Meaning of Debentures Types of Debentures Issue of Debentures Over Subscription Terms of Issue of Debentures Interest on Debentures Writing - off Discount / Loss on Issue of Debentures Redemption of Debentures Redemption by Payment in Lump Sum Sinking Fund Method

By filing separately, you avoid liability for unpaid taxes due on a joint return, plus penalties and interest.»

Under very limited circumstances the IRS can grant various types of relief that either eliminates the joint liability or reduces the amount of tax you are responsible for.

However, the election to file a joint return with a U.S. resident alien spouse has no effect upon the nonresident alien spouse's liability for social security and Medicare taxes if the nonresident alien spouse is an F - 1 student who is exempt from counting days of presence in the U.S. toward the substantial presence test in 2009.

It finally turned to the joint and several liability rule under the Income Tax Act, which says that upon the death of the annuitant of a RRIF, the annuitant (or the annuitant's estate) and any recipient of RRIF proceeds are «jointly and severally liable to pay a part of the annuitant's tax» on the RRIF for the year of the annuitant's death.

That puts you in the awkward position of also being responsible for their portion of the liability loss over and above what your policy is able to pay, because of that joint and several liability.

The tax credit allows you to decrease your liability by up to $ 1,000, or $ 2,000 for joint filers.

This individual and joint liability exists regardless of which credit card holder is responsible for creating the debt, and regardless of any divorce, dissolution, separate maintenance, legal proceedings, or agreements that may affect liability between any of you.

(Financial Liabilities + Derivative Liabilities — Cash / [Marketable Securities]-- Derivative Assets) / (Investment Property / Assets for Sale / Inventories + [Joint Ventures / Associates * 50 %]-RRB-

If you file a joint return, you and your spouse are both responsible for each other's tax liability.

IRS Publication 972 and Form 8857 will give you more information about whether you may be eligible for relief from joint liability arising, for example, from unreported income your spouse neglected to mention.

At Bank of America, for example, the terms co-signer and joint account holder are interchangeable, in that both describe a relationship where the two applicants have charging privileges and liability on the account, says spokeswoman Betty Rises.

A co-signing agreement creates joint and several liability for the loan.

For example, some of the best business credit cards offer «commercial liability,» while other business credit cards offers offer «joint and several liability.»

Business credit card offers with joint and several liability means that both you and your business are liable for debts, so you would have personal liability.

You can avoid an underpayment penalty if withholding or estimated payments equal at least 90 % of your tax liability for the current year, or 100 % of your tax liability for the previous year (or 110 % if your income was more than $ 150,000 for singles and married joint filers).

It is highly recommended that spouses compute their tax liability under both «joint» and «separate» statuses to see which will work best for them.

Even if your divorce decree assigns responsibility for a joint liability (i.e., a joint auto loan) to your now ex-spouse, that does not mean the creditor will let you off the hook.

that means innovation is not just a question of great minds coming up with great ideas, not is it just about R&D spending. Its a much bigger process.  In fact, a lot of important innovation does not involve technology at all. They can be social innovation, the kinds of processes or new kinds of organizational forms. For instance, the joint - stock company or limited liability company is a form of innovation.

For example, if you sign a lease with a Joint and Several Liability Clause and rent an apartment with several others, all of you are responsible for each other's share of the reFor example, if you sign a lease with a Joint and Several Liability Clause and rent an apartment with several others, all of you are responsible for each other's share of the refor each other's share of the rent.

For Purpose Law Group provides full - service legal advice and counsel to nonprofit organizations, traditional businesses and social enterprises including Benefit & Social Purpose Corporations from legal formation through specific entity filing requirements, joint ventures, subsidiary formation, commercial co-ventures, mergers & acquisitions, liability protection, governance, organizational management, exemption reinstatements and — when necessary — dissolutions.

More seriously, it enforces compliance with statutory «moral hazard» requirements that can operate to impose joint and several group - wide liability for pension scheme underfunding — without any question of fault or bad faith arising.

Where a temporary help agency supplied the services of an assignment employee to a client of the agency, Bill 146 would amend the ESA to create joint and several liability for the regular wages and overtime pay earned by the assignment employee during each pay period that the employee supplied services to the client of the agency.

Joint and several liability makes all tortfeasors responsible for the full amount of the judgment.

If one of the new tenants doesn't pay or damages the house, is it legal for the landlord to then use joint and several liability to sue one of the original roommates?

Wisconsin Joint and Several Liability Cases — Examples in Wisconsin where a defendant, despite being minimally at fault, was responsible for paying close to all of the damages.

In other words, there is joint and several liability for claims, regardless of whether the claim flows from negligence or from an excluded act (see below regarding lawyer conduct).

Destabilizing Elements (II) • The end of joint & several liability • Reinforced equal sharing / lockstep • Discourages flight — you remain liable for debts incurred while at the firm • With personal liability, incentive is to try to rehabilitate a declining firm • Without it, logic dictates early departure — first out the door • Most importantly: The end of periodic shared decisions to stay together

The new rules will introduce mandatory data breach notification for all, joint and several liability for suppliers (data processors); tougher restrictions on the use of profiling and the collection and use of children's data; enhanced rights for individuals; and a requirement for most organisations to appoint a data protection officer.

Joint and several liability is a rule that allows the personal injury victim to sue for and recover the full amount of damages from any one defendant.

In my view, it would not be appropriate, as a matter of course, for a joint tortfeasor found to be minimally responsible for an accident to be ordered to pay costs strictly in accordance with its liability to pay the damages.

«By making joint - and - several liability for wages or shifting costs of WSIB it certainly alters the factors under which they originally negotiated their arrangements and I suspect most temp agencies and their clients will have to sit down and say, «OK what does this now mean in terms of who has responsibility for what liability,»» says Broad.

I'm thinking this is a case where joint and several liability applies; IncumbentCo can go after any particular one of the owners and developers for the entire amount if they feel like it, and then it would be up to that person to then sue anyone else he thinks is partially liable.

He is the co-author of a book on the Bermuda form published by Oxford University Press, The Bermuda Form: Interpretation and Dispute Resolution of Excess Liability Insurance, joint winner of the 2012 BILA Book Prize awarded for the most notable contribution to literature in the field of insurance law.

In other areas of administrative penal law there is only an indirect joint liability of the corporation for fines imposed for offences committed by the managing director or other «persons in charge» (section 9 Administrative Penal Code).

Practice leader Klusmann is highly respected for advice in connection with the complicated and still relatively new topic of joint and several liability among cartel members.

Prior to 1995, Wisconsin had a pure form of joint and several liability where a defendant as little as 1 % at fault could have been responsible for all of the plaintiff's damages.

The American Tort Reform Association (ATRA) and the US Chamber's Institute for Legal Reform released a joint report today entitled, «Trial lawyer Underground: Covertly Lobbying the Executive Branch», a report documenting a nearly seven - year expansion of civil liability at the expense of investment, innovation and economic competitiveness.

AB 75 (Budget Bill — Joint and Several Liability): Alters Wisconsin's joint and several liability law by forcing defendants as little as one percent at fault to pay for 100 percent of the damJoint and Several Liability): Alters Wisconsin's joint and several liability law by forcing defendants as little as one percent at fault to pay for 100 percent of theLiability): Alters Wisconsin's joint and several liability law by forcing defendants as little as one percent at fault to pay for 100 percent of the damjoint and several liability law by forcing defendants as little as one percent at fault to pay for 100 percent of theliability law by forcing defendants as little as one percent at fault to pay for 100 percent of the damages.