Because bankers and other creditors want assurance that the money they loan to a corporation...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Because bankers and other creditors want assurance that the money they loan to a corporation is secure, they often require owners of closely held corporations to personally guarantee loans made to the corporation. Therefore, owners of small corporations are often only shielded from product liability and malpractice type judgments brought against the business. Do you think this is a fair requirement by the banks or creditors?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
