Legal Question in Business Law in Louisiana
Leese
If I owned an Limited Liability Company, which is now closed, am I still responsible personally for a credit card machine lease. My business was in Louisiana, the credit card machine business is in New York.
Asked on 8/15/07, 11:34 am
2 Answers from Attorneys
Curtis Shelton
Ayres, Warren, Shelton & Williams, LLC
Re: Leese
Generally, you would only be responsible if you signed a personal guaranty of the machine lease. Most companies would require a personal guaranty. You should look at what you signed to see whether you, in addition to the company, agreed to be responsible for the amount owed.
Answered on 8/15/07, 12:07 pm
Nick Pizzolatto, Jr.
Pizzolatto Law Office
Re: Leese
It depends on the lease. Also, if it is a true limited liability company, then you maximum exposure is the amount you agreed to be liable for on behalf of the company.
Answered on 8/15/07, 1:00 pm
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