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> Example, I would always advise against a "single member" LLC because an LLC is considered a Partnership, thus Courts will not enforce Partnership protection w
by DenisM 14y ago
> Example, I would always advise against a "single member" LLC because an LLC is considered a Partnership, thus Courts will not enforce Partnership protection where there are no Partners (ie, single member) and the LLC can be liable for Founder's personal debts
Is this actually true? I keep reading stuff like this on the Internet, but the corporate law textbook "corporations" by Alan Palmiter indicates otherwise. It would be nice if people qualified their opinion by referencing actual cases or studies.
- will_brown 14y agoOlmstead v. Federal Trade Commission http://www.floridasupremecourt.org/decisions/2010/sc08-1009.pdf http://www.floridasupremecourt.org/decisions/2010/sc08-1009....