LIABILITIES OF DIRECTORS
\lˌa͡ɪəbˈɪlɪtiz ɒv da͡ɪɹˈɛktəz], \lˌaɪəbˈɪlɪtiz ɒv daɪɹˈɛktəz], \l_ˌaɪ_ə_b_ˈɪ_l_ɪ_t_i_z ɒ_v d_aɪ_ɹ_ˈɛ_k_t_ə_z]\
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Company directors financially accountability is strictly for tax withholdings, sales or commodity taxes, like value-added tax. Typically, they are not personally accountable for acts beyond their control, but can and will be sue for not fulfilling their job expectation by stockholders. They are also generally not liable for errors of judgment, but may be sued for negligence by third parties or stockholders. They can and will be sue for negligence in their job by 3rd-parties and by stockholders.
By Henry Campbell Black
Word of the day
Mustagh Range
- a mountain range in northern Kashmir; an extension of the Hindu Kush; contains 2nd highest peak