Legal Question in Business Law in Texas
If i own a "S corporation" and have cars under the corporation name, if i get into a wreck caused by me, can i be personally sued?, even though i have personal insurance.
2 Answers from Attorneys
You are always liable for your errors. If you caused the accident while driving a company car both you and the company can be sued. That is why you and the company purchase liability insurance for operation of the cars. The corporate shield protects you from personal liability if another employee of the company is operating the car when the wreck occurs, not from your own errors while operating one of the cars.
Hope this helps. If you are still questioning your personal liability for debts or other obligations of the corporation give me a call and we can discuss.
Darrel
I agree with Mr. Behring.
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