Legal Question in Business Law in Texas

If drafted correctly LLC stands for Limited Liability Company and thus, you should be shielded from any personal liability above what you agreed to contribute to the entity.

We would need to see the Investment and Shareholder Agreement and the LLC Formation documents in order to advise you on this question, but, usually, only to the extent of your capital contribution. However, sometimes they can. Again, I would need to review the documents.

You should never enter into an agreement, or contract, of any kind without allowing a qualified business attorney review them first.

Goldstein & Scopellite, PC has qualified litigation attorneys, business lawyers and business formation attorneys available to represent you at either one of their law offices located in Dallas, Texas and Tucson, Arizona - Please visit their websites at www.LawyersDallas.com and www.Lawyers-Tucson.com for more information or to contact them. Thank you.