Podcast
Questions and Answers
What is indemnity?
What is indemnity?
Which of the following is a characteristic of indemnity?
Which of the following is a characteristic of indemnity?
What is the primary concern of an established massage therapy practitioner when choosing a business entity?
What is the primary concern of an established massage therapy practitioner when choosing a business entity?
Which business entity is best suited for an established massage therapy practitioner who is primarily concerned about liability?
Which business entity is best suited for an established massage therapy practitioner who is primarily concerned about liability?
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What is a major drawback of a sole proprietorship for an established massage therapy practitioner?
What is a major drawback of a sole proprietorship for an established massage therapy practitioner?
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Study Notes
Indemnity Definition
- Indemnity is a legal duty or obligation arising from a contract
- It involves one party agreeing to compensate for losses or damages if they occur
Business Entity for Liability Concern
- For an established massage therapy practitioner concerned about liability, the best business entity is an LLP (Limited Liability Partnership)
- This is because an LLP provides personal liability protection for the practitioner, limiting their exposure to lawsuits and financial losses
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Description
Understand the concept of indemnity and the best business entity for liability protection, particularly for massage therapy practitioners.
