When Businesses Fail or People Can’t Pay Bills, Liability Limits Can Save the Day
Most people would agree that a person who borrows money, contracts for the manufacturing or delivery of goods and services, or enters into agreements that require or encourage substantial investment by other parties should not be allowed to fail to meet those obligations without consequence. Regardless of the cause of these breaches of contract or the good faith of the perpetrator, the losses they cause necessitate recovery efforts by lenders, suppliers, contractors and distributors, often at great monetary and opportunity cost.
Our economy is fed and supported by people making such “promises” and other people acting in reliance on them. Keeping those promises is essential to a community’s economic health
You’re reading a preview, subscribe to read more.
Start your free 30 days