Legal Question in Business Law in Minnesota
I'm a minor in MN and would like to open a business where I would need to enter into contract with others and would like to know a way that I can operate without having the others worried about my ability to disaffirm the contract.Could I use a LLC or Corp to do this. I would really like to avoid having my parents cosign.
Asked on 10/12/13, 1:52 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Someone over 18 will need to serve as Member/Owner of the LLC
And also provide SS# if you are going to have any banking relationship
However , beyond that you certainly can operate and work the business of the LLC
Just be aware some Vendors or suppliers may want personal guaranties
And until you're 18 you cannot provide that
Answered on 10/12/13, 2:01 pm
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