Automobile liability insurance provides coverage for bodily injury or property damage for which the insured is legally liable due to an automobile accident. It is a fundamental aspect of auto insurance policies, ensuring financial responsibility for harm caused to others.
The act of affixing one's signature on a contract, such as a loan, in addition to the principal signature of another. Both signers are liable for the loan or other contract.
A cosigner is an individual who agrees to take on the financial obligations of a loan or debt if the primary borrower defaults. This person provides assurance to the lender of repayment.
A credit limit refers to the maximum balance that a credit card issuer allows a customer to borrow on their credit card. It is a fundamental aspect of credit management and determines the extent of a cardholder's purchasing power.
A general partner is a member of a partnership who has unlimited liability for the partnership's debts and obligations, actively managing and operating the business.
