corporation not in good standing
Can a corporation that is not in good standing enter into a lease that is binding. Can the said corporation bring suit if the need occurs.
1 Answer from Attorneys
Re: corporation not in good standing
If it is not in good standing, the officers and shareholders may end up being personally liable for the debts of the corporation and no it can not sue unless reinstated.
Related Questions & Answers
I need to make my Pub a Private Club A smoking ban is ruining my business. I need to... Asked 3/22/07, 9:58 am in United States Illinois Business Law
Interference with construction Our condo assoc is getting some work done in the... Asked 3/20/07, 7:32 pm in United States Illinois Business Law
Corporate office liability is there any financial liability of a corporate officer... Asked 3/20/07, 3:08 pm in United States Illinois Business Law
Void Pre-Incorporation Contract My partner has willfully decided to accept my... Asked 3/20/07, 10:09 am in United States Illinois Business Law
DMV law Is it legal to ask for a drivers license as identification in Illinois? We... Asked 3/19/07, 2:28 pm in United States Illinois Business Law