Legal Question in Business Law in Georgia
LLC Personal Liability
If I break a lease agreement between my company and the landlord, what is my personal liability? I have a single owner llc.
1 Answer from Attorneys
Re: LLC Personal Liability
Generally, owners of an LLC are not responsible for the debts and obligations of the LLC. However, there are possible exceptions to this general rule, including singing a personal guarantee or failure to properly maintain company documentation such as an operating agreement. The terms of the lease may also be relevant to your personal liability.
If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
Related Questions & Answers
-
How to make a simple contract paper? Hi, I would like to know how to make my own... Asked 3/27/08, 2:10 pm in United States Georgia Business Law
-
S Corporation Dissolution I am a shareholder in an S corporation with two other... Asked 3/26/08, 8:44 am in United States Georgia Business Law
-
Forced to ride a motorcycle without insurance I'm a mechanic at a motorcycle... Asked 3/18/08, 2:35 pm in United States Georgia Business Law
-
Sueing a trust or estate we took someone to court and it was concerning his late... Asked 3/17/08, 11:55 am in United States Georgia Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
