Does the financial liability for the obligations of a sole proprietorship transfer to the company after its conversion, and what is the effect of this on the liability of the former owner of the proprietorship?
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The financial liability for the obligations of the sole proprietorship transfers to the company after its conversion upon completion of the prescribed statutory procedures for that. The joint liability of the former owner of the proprietorship ceases towards third parties who have been notified or have knowledge of the conversion,...
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