Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Professor Smith is the sole member of Smith Tree Farm and Cattle Ranch, LLC. The LLC entered into an agreement with Joey Dial to harvest

Professor Smith is the sole member of Smith Tree Farm and Cattle Ranch, LLC. The LLC entered into an agreement with Joey Dial to harvest trees from Professor Smith's property. During the tree harvest, Joey Dial alleged that Professor Smith's trees were full of iron nails which resulted in the damage of Joey Dial's equipment. After discovering that the LLC was without assets, Joey Dial sued Professor Smith individually. The Professor defended on the basis that the contract was between the LLC and Joey Dial and that he has no personal liability.

Can the court disregard the LLC entity in this situation and hold Professor Smith personally responsible?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Text And Cases

Authors: Kenneth W. Clarkson, Roger LeRoy Miller

15th Edition

0357129636, 978-0357129630

More Books

Students also viewed these Law questions