But these bond issues simply replace one form of liability with another.

ECONOMIST: Detroit's nine lives

They need to assume some form of joint liability for debts, with only the well-behaved benefiting from the shelter of Eurobonds.

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Against that it may come as a surprise that Spain, Europe's fifth-largest economy, has any entrepreneurs at all, for while Spain has a form of limited liability, as Gary Stewart found out, the limitations aren't all that limited.

WSJ: Liability Standard Risks Stifling Spain

Concerted actions by governments since then, first in the form of capital injections and liability guarantees, and more recently via schemes to buy or guarantee loans, have signalled their determination to stabilise and clean up their big banks.

ECONOMIST: Rebuilding the banks

Had this been a private-sector enterprise, competition and the threat of liability would have spurred innovation in the form of frequent updating of the drug's purification and formulation with state-of-the art technologies and would have required rigorous adherence to government regulations.

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The study was published in book form in 2004, and also formed the basis of a 2010 book on liability in international humanitarian law.

BBC: Romanian PM Victor Ponta rejects plagiarism claim

As I have explained elsewhere if you really want to affect your tax liability, you need to be looking at page 1 of Form 1040, you can scroll there, if you want to follow along.

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On the creative side of wealth management, you can also form business entities such as a family limited liability company or limited partnership to house assets.

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Many tax expenditures, mostly those that take the form of refundable credits, not only cost millions of dollars in terms of a reduction in tax liability, but also generate millions of dollars of tax fraud.

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