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My guess is the scenario they're worried about is neither debts nor criminal harm, but civil liability. Like say the counterparty claims you had an implicit war
by dataflow 5y ago
My guess is the scenario they're worried about is neither debts nor criminal harm, but civil liability. Like say the counterparty claims you had an implicit warranty regarding X, but in fact you didn't, and that they suffered damages as a result. Then can they go after your personal funds to recover damages (if they win)?
- kube-system 5y agoAccording to this [0] I wouldn’t rely on an LLC to protect me from torts, especially if it’s a single member LLC. It also says that it varies by state, so this is an even better reason to chat with a lawyer about the particular issues you’re concerned about and how your state would treat it. [0]: https://www.nolo.com/legal-encyclopedia/limited-liability-protection-llcs-a-50-state-guide.html https://www.nolo.com/legal-encyclopedia/limited-liability-pr...