sole proprietorship 1. Please read, Case 14.1 Bank of America, N.A. v. Barr (ATTACHED). What is a sole proprietorship? Why are sole proprietors held personally liable for the debts of their businesses? Also read: A CPA, a sole practitioner, has acquired a practice from a retiring CP Since World War II, the United States has often been placed No. 1 in world rankings of various kinds. With the fall of the Soviet Union in 1991, the United States was often referred to as the sole remaining superpower. As the twenty-first century proceeds