Legal Question in Business Law in Virginia
enterprises
If you are part owner in an enterprise and you provide the companies, your vendors, a finanical statement, is there a possibility, if the business goes broke, for you to loose your home and other possesions? What if your home etc. is in a trust?
Asked on 9/24/08, 8:40 am
1 Answer from Attorneys
Ruth Emily Kochard
Ruth Emily Kochard, Counselor at Law
Re: enterprises
The risk of the loss impacting your personal assets would depend upon the form of the business (eg. corporation, partnership, llc etc).
Answered on 9/24/08, 8:47 am
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