Question
XYZ Pyt. ltd. and HAL Pyt. ltd. both are partners. XYZ took a loan for which HAL gave a guarantee to the bank. Bank finds
XYZ Pyt. ltd. and HAL Pyt. ltd. both are partners. XYZ took a loan for which HAL gave a guarantee to the bank. Bank finds out HAL is a $2 dollar company. So, will the guarantee given by HAL can be transferred to XYZ pyt. ltd or not?
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No the guarantee given by HAL Pyt ltd cannot be transferred to XYZ Pyt Ltd Guarantees are personal c...
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
