Selling business & warranties

[odsink]

What is the name of your state? Montana

I am selling my business which is a "s" corporation and am wondering what liabilities I have with work that was done during my ownership.

 

[HomeGuru]

What is the name of your state? Montana

I am selling my business which is a "s" corporation and am wondering what liabilities I have with work that was done during my ownership.

**A: How the heck should we know. You're not giving us very much to go on.

 

[odsink]

Sorry, I gave you as much as I know! My question was, when I sell my business (construction, "C corp") what is my liability should any of my former clients of whom I did work for come back with any problems?

 

[mykoleary]

You can't even decide if it's an s corp (first post) or a c corp (second post)

How can we help you if we don't have the details (such as wording of the sale contract, etc...)

I suggest you find a local lawyer with a lot of patience...

 

[oberauerdorf]

Or ask your Instructor.

 

[HomeGuru]

Or ask your imaginary friend.

 

[JETX]

If you are selling (or buying) a business, the best investment you can make is in getting an attorney involved. There are potentially HUGE risks that need to be considered and resolved. Your saving a few hundred dollars in this commercial sale could cost you thousands later.

Oh, and by the way, YOU are not the owner of a corporation. You are merely a shareholder.

 

[HomeGuru]

Maybe even a sharecropper's son.