________ liability is the responsibility of an acquirer of corporate assets for the liabilities of the corporation that sold its assets.

Question

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Successor liability is a legal doctrine that holds a buyer of corporate assets responsible for the liabilities of the seller, especially when the buyer is essentially acquiring the seller's business. This ensures that the seller cannot escape its debts and obligations by simply selling its assets to a third party. Parent liability refers to a parent company being responsible for the actions and liabilities of its subsidiaries, while environmental liability pertains to the responsibility of individuals or businesses for the environmental impacts of their operations.

________ Liability Is the Responsibility of an Acquirer of Corporate