__________ liability is the responsibility of an acquirer of corporate assets for the liabilities of the seller.

Question

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Successor liability is the responsibility of an acquirer of corporate assets for the liabilities of the seller. This means that if a company acquires another company's assets, they also acquire any legal obligations, such as debts or lawsuits, associated with those assets. Parent liability refers to the responsibility of a parent company for the actions or debts of its subsidiaries, and environmental liability refers specifically to the responsibility for cleanup of environmental hazards. Subsidiary liability is not a commonly used term in corporate law.

__________ Liability Is the Responsibility of an Acquirer of Corporate