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atsakyti savo turtu

English translation: be liable to the extent of its assets

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Lithuanian term or phrase:atsakyti savo turtu
English translation:be liable to the extent of its assets
Entered by: Irena R

17:17 Jul 30, 2010
Lithuanian to English translations [PRO]
Law/Patents - Law (general)
Lithuanian term or phrase: atsakyti savo turtu
Pagal savo prievoles UAB atsako tik savo turtu.
Irena R
Local time: 15:46
be liable to the extent of its assets
Explanation:
While the LLP has a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution in the LLP.

Article (23) of Federal Law No (8) of 1984 concerning commercial companies defined the General Partnership as being a company
formed by two or more partners who are jointly liable to the extent of all their assets for the company liabilities.
Selected response from:

Ugne Vitkute (X)
Lithuania
Local time: 15:46
Grading comment
Ačiū.
4 KudoZ points were awarded for this answer



Summary of answers provided
4be liable to the extent of its assets
Ugne Vitkute (X)
Summary of reference entries provided
Company's liability is limited to its assets
Kristina Radziulyte

  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
be liable to the extent of its assets


Explanation:
While the LLP has a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution in the LLP.

Article (23) of Federal Law No (8) of 1984 concerning commercial companies defined the General Partnership as being a company
formed by two or more partners who are jointly liable to the extent of all their assets for the company liabilities.

Example sentence(s):
  • .

    Reference: http://en.wikipedia.org/wiki/Limited_liability_partnership
    Reference: http://www.abudhabichamber.ae/user/SectionView.aspx?PNodeId=...
Ugne Vitkute (X)
Lithuania
Local time: 15:46
Specializes in field
Native speaker of: Lithuanian
PRO pts in category: 12
Grading comment
Ačiū.
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Reference comments


4 mins
Reference: Company's liability is limited to its assets

Reference information:
žr. ankstesnį KudoZ:

bendrovė atsako jai priklausančiu turtu


    Reference: http://www.proz.com/kudoz/3882910
Kristina Radziulyte
Lithuania
Works in field
Native speaker of: Lithuanian
PRO pts in category: 16
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