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10-24-2008, 06:41 PM
| | Junior Member | | Join Date: Oct 2008
Posts: 1
| | | Corporation questions
What is the name of your state (only U.S. law)? CA
If 2 people were to incorporate their business, can anyone sue the 2 owners for their personal assets (i.e. home, bank account, etc)? If the owners hold officership of the company and found liable for a lawsuit judgment, would the winner be able to take the owner's personal assets for payment of the lawsuit? Or, does incorporation means that they can only sue for the assets of the corporation?
Thanks! |
10-24-2008, 08:39 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,468
| | Quote:
Originally Posted by realitycheck123  What is the name of your state (only U.S. law)? CA
If 2 people were to incorporate their business, can anyone sue the 2 owners for their personal assets (i.e. home, bank account, etc)?
**A: yes
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the owners hold officership of the company and found liable for a lawsuit judgment, would the winner be able to take the owner's personal assets for payment of the lawsuit?
**A: worse case scenario is yes.
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Or, does incorporation means that they can only sue for the assets of the corporation?
Thanks! |
**A: it depends on the lawsuit. | |
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