Limited Liability Is the principal personally liable? 1. Carlos is the sole member of a single-member LLC.
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Limited Liability Is the principal personally liable?
1. Carlos is the sole member of a single-member LLC. After one year, despite his best efforts, the business fails and the bank that extended the LLC a loan sues for repayment. Is Carlos personally liable for the loan?
2. Carlos is a member of an LLC, along with three other members. After one year, despite their best efforts, the business fails and the bank that extended the LLC a loan sues for repayment. Is Carlos liable for all or part of the loan?
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Related Book For 
Business Law And Strategy
ISBN: 9780077614683
1st Edition
Authors: Sean Melvin, David Orozco, F E Guerra Pujol
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