Let us have an expression whose limit I want to evaluate by using Algebra of Limits, which requires the existence of both the limits on the RHS.
Suppose, as an example, I want to use the product rule
$\lim f(x)g(x) = \lim f(x) \cdot \lim g(x)$.
Now what I would do is assume that $ \lim f(x)$ and $\lim g(x)$ exists. After solving if I get a finite value (a non-indeterminate form) I will safely assume that both the limits must have existed and the value I get as the answer is correct. But if i get the answer as an indeterminate form (say $ 0 \times \infty$, or $\infty-\infty $) (or say find $ \lim f(x)$ does not exists), we cannot comment on the nature/value of limit of original expression using the rule, it may exists or may not. We must find another way to so.
Is the above way a correct (or an okayish) way of using the Algebra of Limits or are there certain pitfalls I need to be aware of, or some useful extensions of the mentioned way? Is is also correct to go the above way to apply theorems of limits that require existence of the limit in the first place?
Also my teacher told me that the mentioned way is also correct if we get a (positive finite number) $\times \infty$ form or $ \infty \times \infty$ form, it makes the limit of the original expression $\infty$ (or does not exists, as you may like to treat it). It is also mentioned in A course of Pure Mathematics by G.H. Hardy. Is it true & why if so?