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Jasmirah Furline
on Nov 30, 2024

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Montana Mountain Guides does not have sufficient funds to pay damages for a tort that arose out of the operation of the business. Jess, a business owner, is not personally liable if:

A) she is a sole proprietor of the business.
B) the business is a corporation and she is a shareholder.
C) she committed the tort.
D) she is a general partner of the business.

Sole Proprietor

is a business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.

Corporation

A legal entity that is separate from its owners, providing limited liability, and is able to own property, incur debt, sue and be sued.

General Partner

An owner of a partnership who is responsible for its operations and is liable for its debts without limitation.

  • Grasp the concept of liability and protection in different business structures.
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Tootie WhiteDec 04, 2024
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