3 ms·

Amazon is the magic law blanket. They take the payment, they store the goods, they ship the wares.. but it's WAGANFU brand that they have no serviceable address

Amazon is the magic law blanket. They take the payment, they store the goods, they ship the wares.. but it's WAGANFU brand that they have no serviceable address for that is responsible?

Scoundreller 4y ago
Gotta love limited liability! I believe American Express was one of the last public companies to convert from unlimited liability to limited.
- morpheuskafka 4y ago
  That's not what limited liability means. It's about the owners/investors/shareholders of the company not being personally liable for debts (court judgements or loan payments) in excess of the company's assets. Without it, simply holding stock in a company could theoretically expose someone to unlimited losses if the company had more liabilities than assets for whatever reason. A history of the application of limited liability to corporations: https://www.bus.umich.edu/KresgeLibrary/resources/abla/abld_4.1.11-33.pdf https://www.bus.umich.edu/KresgeLibrary/resources/abla/abld_.... The term "limited liability company" was created much more recently to as a sort of corporation-lite entity that had this essential attribute without all the other corporate formalities. The tax laws decided to treat LLCs as non-corporations unless the elected otherwise, removing one of the major costs of having the liability protection. Partnerships, the default/unorganized form of joint business ventures, do not have liability protection. Later, limited partnerships were created that did, but limited partners could not participate in everyday business. Thus, the corporation and later LLC were the only forms that allowed managing investors to protect themselves from excess business liability. This has nothing to do with whether or not Amazon is liable for products third parties sell on their site.

3 ms·

Amazon is the magic law blanket. They take the payment, they store the goods, they ship the wares.. but it's WAGANFU brand that they have no serviceable address

by stefan_ 4y ago

Amazon is the magic law blanket. They take the payment, they store the goods, they ship the wares.. but it's WAGANFU brand that they have no serviceable address for that is responsible?

Scoundreller 4y ago
Gotta love limited liability! I believe American Express was one of the last public companies to convert from unlimited liability to limited.
- morpheuskafka 4y ago
  That's not what limited liability means. It's about the owners/investors/shareholders of the company not being personally liable for debts (court judgements or loan payments) in excess of the company's assets. Without it, simply holding stock in a company could theoretically expose someone to unlimited losses if the company had more liabilities than assets for whatever reason. A history of the application of limited liability to corporations: https://www.bus.umich.edu/KresgeLibrary/resources/abla/abld_4.1.11-33.pdf https://www.bus.umich.edu/KresgeLibrary/resources/abla/abld_.... The term "limited liability company" was created much more recently to as a sort of corporation-lite entity that had this essential attribute without all the other corporate formalities. The tax laws decided to treat LLCs as non-corporations unless the elected otherwise, removing one of the major costs of having the liability protection. Partnerships, the default/unorganized form of joint business ventures, do not have liability protection. Later, limited partnerships were created that did, but limited partners could not participate in everyday business. Thus, the corporation and later LLC were the only forms that allowed managing investors to protect themselves from excess business liability. This has nothing to do with whether or not Amazon is liable for products third parties sell on their site.