Legal Question in Business Law in Pennsylvania
If I co sign for credit for a llc my husband is sole member, will this allow a chance of our personal assets to be included if ever a lawsuit arises?
It is roofing.
Asked on 5/17/12, 4:06 pm
1 Answer from Attorneys
Andrew Solomon
Law Office of Andrew A. Solomon
If your husband has signed in his personal capacity, yes, your personal assets could be executed against if a judgment were obtained for non-payment of the credit provided. While I realize your husband signed in his capacity as sole member of an LLC, you have to read the fine print of the document signed. Sometimes there is language (in very small print) that states that any person signing is doing so in both their corporate and personal capacities. Be very careful, as these forms are full of small print, and the fact that most people never read it does not matter.
Answered on 5/17/12, 4:49 pm
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