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Liability: Difference between revisions
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A company’s [[shares]], by way of illustration, are ''not'' [[liabilities]], but rather represent an ''ownership'' interest in the issuing company. | A company’s [[shares]], by way of illustration, are ''not'' [[liabilities]], but rather represent an ''ownership'' interest in the issuing company. | ||
===Payment of liabilities out of own funds=== | |||
You may occasionally see a covenant from an [[espievie]] to its security trustee as follows: | |||
{{quote|'''[[Payment of Liabilities]]''': at all times pay its liabilities out of its own funds or procure payment of such liabilities by other persons out of moneys owing to it.}} | |||
{{sa}} | {{sa}} | ||