Legal Question in Business Law in Florida

Re: S-Corp

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Without knowing the documentation which was signed it is hard to provide any answer. Generally, you would have no personal liability unless you signed a personal guarantee.

If you have serious concerns, you should have an attorney review any agreements or documents you executed on behalf of the venture.

Scott R. Jay, Esq.

Re: S-Corp

They shouldn't be unless there was a personal guarantee somewhere.