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Ron owns Ron's Painting LLC. As part of the company's first paint job, Ron's Painting LLC went and bought $10,000 worth of paint at
Ron owns Ron's Painting LLC. As part of the company's first paint job, Ron's Painting LLC went and bought $10,000 worth of paint at Home Depot so Ron's Painting LLC could paint a house. However, once they were done with the house, the homeowner didn't pay Ron's Painting LLC and now the LLC has no money! Home Depot is suing Ron and Ron's Painting LLC. The only asset Ron's Painting LLC has is some leftover paint. Ron himself has $10,000 in a checking account. What can Home Depot recover? Nothing The leftover paint and most of the $10,000 in Ron's personal cash to cover the full debt I Ron's house and all his worldly possessions The leftover paint
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