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Legally you will be jointly liable for making repayments, so if your child defaults you could end up with a black mark against your name.
Similar to a joint checking account, each co-borrowing arrangement allowed either side to draw from the line of credit and both sides were jointly liable for making sure the loan was paid back.
An appeals court ruled this week that Environmental Protection Agency officials are not liable for making rosy declarations about air quality in the days after the World Trade Center's destruction on 9/11.
The fact that data are available is discouraging us from making decisions because it is so easy to be liable for making the wrong decision, i.e. had we "just checked our data" it would have been evident that another decision should have been made.
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A bigger challenge facing users and Internet companies in India is that they can be held liable and even arrested for making any "offensive" comments on the web and social media.
AN appellate court ruling issued last month gives New York co-op and condominium board members the ability to do their jobs without fear of being held personally liable for decisions made in good faith on behalf of their buildings.
Credit card companies cannot hold you liable for fraudulent purchases made on a credit card.
However, mobile phone contracts currently hold the owner liable for all calls made until the theft is reported.
Nevertheless, the move to hold top managers personally liable for any misrepresentations made to investors -- which the new corporate oversight legislation also does -- is a watershed worth celebrating.
Some of Mr. Perry's odder moments — like his invocation of Galileo Galilei in response to a question about climate change — are liable to make for a funny segment on The Daily Show and then be forgotten about.
The reason, says Mr Goebel, who is president of Die Familienunternehmer as well as running his own firm, is that family business owners are personally liable for debts, which makes them more prudent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com