Legal Question in Business Law in Nevada
Personal suing for corporate debt?
If someone owns a company that is Incorporated and is the President/CEO of that company, what happens to his debt for advertising if he sells to new owners? Isnt he still liable for it?
Asked on 2/17/09, 5:09 pm
1 Answer from Attorneys
James Smith
James E. Smith Ltd.
Re: Personal suing for corporate debt?
It depends if he signed in the capacity of a corporate officer or gave a personal guaranty. It the new owners did not assume the debt, then he may also be liable.
Answered on 2/17/09, 5:28 pm
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