XYZ Pyt. ltd. and HAL Pyt. ltd. both are partners. XYZ took a loan for which HAL

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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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Financial Accounting and Reporting

ISBN: 978-0273744443

14th Edition

Authors: Barry Elliott, Jamie Elliott

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Posted Date: Apr 09, 2024 05:40 PM

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XYZ Pyt. ltd. and HAL Pyt. ltd. both are partners. XYZ took a loan for which HAL

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No the guarantee given by HAL Pyt ltd cannot be transferred to XYZ Pyt Ltd Guarantees are personal c... View the full answer

Financial Accounting and Reporting

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