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Sole Trader

When a person conducts business as an individual, he or she is a sole trader. From a legal point of view there is no difference between the person and the business. As such, the liabilities of the business are the liabilities of the individual - he or she is personally liable for any and all business-related obligations, such as debts resulting from the purchase of goods or services or from court judgements and for the performance of warranty obligations in respect of goods supplied or work performed. Many sole traders carry on business under a registered business name and may carry on business under a company structure where they are the sole shareholder and sole director.

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