Legal Question in Business Law in New Jersey
Limited Liability Company
I have a limited liability company in new jersey.Beyond my insurance liability limitation of 1 million,can anyone go further towards my personal property,such as house etc. if the person sues more than 1 million?
thank you.
--name removed--
1 Answer from Attorneys
Re: Limited Liability Company
Except in unusual circumstances, the LLC form of business is sufficient to insulate the business owners from liability on account of suits brought against the business. However, a few causes of action can also give rise to personal liability. You should ask the question of a lawyer who is familiar with the type of business that you do and the services that you perform for the business. The chances are that you are fully protected but there are exceptions that might apply.
See also: http://info.corbettlaw.net/lawguru.htm
Related Questions & Answers
-
Non compete agreement Does a non compete agreement have to be notorized to be... Asked 2/05/07, 3:26 pm in United States New Jersey 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.
