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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Limiting your liability Posted by Mark D on September 22, 2003 at 4:29 PM In Reply to: Limiting your liability posted by Ward-CA- on September 21, 2003 at 10:22 PM Sometimes. Using an LLC prevents you from liability for breach of contract (as long as you didn't sign the contract as a guarantor), but it would not limit your liability for a negligent or intentional misrepresentation that you personally make, even if made while acting for the LLC. Additionally, it a simple matter for a plaintiff to allege alter ego in a lawsuits, contending that the LLC was inadequately capitalized and that you, the owner, should, in equity, be liable for all of the LLC's obligations. An LLC offers some protections, but it is by no means absolute. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Sometimes. Using an LLC prevents you from liability for breach of contract (as long as you didn't sign the contract as a guarantor), but it would not limit your liability for a negligent or intentional misrepresentation that you personally make, even if made while acting for the LLC. Additionally, it a simple matter for a plaintiff to allege alter ego in a lawsuits, contending that the LLC was inadequately capitalized and that you, the owner, should, in equity, be liable for all of the LLC's obligations. An LLC offers some protections, but it is by no means absolute. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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