Posts tagged Hemp Biz
Industrial Hemp — Careful Attention Needed to Prevent Personal Liability for Company Debts

When undertaking an act you intend to be an obligation of your corporation or limited liability company [LLC], you must make certain that the person you are dealing or contracting with is aware that the obligation is not yours individually.  If you are not attentive and careful, a court could rule that you are personally obligated to pay your company's debts.

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Carelessness Can Make You Personally Liable for Company Debts

Carelessness and inattention can make you liable personally for a debt of a corporation, limited liability company, or other business entity. You thus be thorough and mindful to create and maintain appropriate internal records of your company, and you must be vigilant with your business’ external documents, such as contracts, loans and other written agreements it enters into with third persons.

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