I am an investor in real estate with 35 other unrelated investors. i have been asked to serve on a committee to gather information about the management company that manages the properties for the investors. do i have personal liability if i agree to serve on this committee?
2 Answers from Attorneys
That's a good question and I likely have liability if I give you an incorrect answer upon which you rely to your detriment. So I am not willing to incur this liability without knowing the rest of the facts for free. Good luck to you.
Generally speaking, potentially yes. One would need to further analyze the governing structure of the management/investment company and the type of decisions the committee will be undertaking to provide an answer in your particular case.
Related Questions & Answers
I am starting up a business and I want to bring a web developer in and potentially... Asked 10/29/12, 12:00 pm in United States Delaware Business Law
Goodday everyone I own 40% of the shares of an LLC and I do not want significant... Asked 10/16/12, 8:48 pm in United States Delaware Business Law
I have used agent and mail-forwarding company Easycorp Ltd... Asked 10/05/12, 6:50 am in United States Delaware Business Law
Our company is registered in Delaware and we do not have rights to do business on... Asked 7/16/12, 8:02 am in United States Delaware Business Law
I invested into a small business with a life long friend. He closed the business and... Asked 4/24/12, 9:19 pm in United States Delaware Business Law