Will my wife be accountable for his debt if the business failed? She is not a guarantor in any loan for the company.
2006-12-12 12:47:23 · 4 answers · asked by Han 1 in Politics & Government ➔ Law & Ethics
Has to deal with Justice in Singapore.
2006-12-12 13:04:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Of couse not. Your father in law owns the business not your wife. Like you stated, she's not a guarantor in the business so if the business fails then she's out of a job and her inheritance but she's not liable for the debts.
Every man is liable for his own debt not the debt of others unless he has taken the responsiblity to be liable for it.
Good luck. Sounds like you're afraid your father-in-law's business is going to fail.
2006-12-12 23:07:42 · answer #2 · answered by El_Nimo 3 · 0⤊ 0⤋
Any one can sue anybody in Singapore. If you are using this as an excuse for your wife to quit working for her father, tell her straight then. Many people are working with sole proprietors and they are not having sleepless nights for such misfortune.
2006-12-12 21:24:40 · answer #3 · answered by unnga 6 · 0⤊ 0⤋
"Sole proprietor" meant if the company was being sue bankruptcy, the only person will be liable is only the owner. Your wife is just an employee, how can she be accountable for?
2006-12-12 21:37:24 · answer #4 · answered by Tan D 7 · 0⤊ 0⤋