Legal Question in Business Law in Delaware

I am the director of an LLC. Just over three (3) years ago I was one of the parties signing a contract related to a reservation fee payable on real estate. As a representative for an apartment complex their were multiple buyers. A number of these buyers did not continue with their purchase and did not receive a refund, as per contract. Some of these parties have threatened legal action saying the contract was not fulfilled or was made in bad consience, although this is untrue. Even though I signed in my position as director of an LLC they have threated suit against me personally. Is that possible in general and is it possible at all after 3 years? Thank you.


Asked on 6/24/10, 9:41 am

2 Answers from Attorneys
Kevin B. Murphy Franchise Foundations, APC

Any attorney will say a review of all facts, documents, etc. is required. After that, a personal consultation is needed. This is not a simple bulletin board type question. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 6/24/10, 1:55 pm

I do not have enough information to answer your specific question, but the statute of limitations for filing a contract action in Delaware is 3 years. 10 Del. C. � 8106.

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Answered on 7/01/10, 12:59 pm


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