In order to limit liability for contracts and torts, a small business owner should have a basic understanding of contract law. |
The issue of authority under contract law is not always clean-cut. In most situations, express or implied authority is granted to an agent of the business. ... |
If a small business owner hopes to limit liability for contracts and torts, he or she must have a basic understanding of the law of principal and agent, ... |
Ideally, the small business owner will sign a contract solely as an agent of his or her limited liability company (LLC) or corporation. If an agent ... |
Many business owners harbor a misconception concerning pre-formation contracts, which potentially could lead to one of the |
Even though pre-formation contracts can result in one of the contract exceptions to limited liability, not all is ... |
As a rule, in order to avoid one of the contract exceptions to limited liability, the party to a business contract should always be the principal (i.e., |
Inserting the name of the business entity as the party to the contract is necessary to avoid personal liability, but it is not sufficient by itself to avoid ... |
In practice, personally guaranteeing the business's contracts will be a contract exception to limited liability that the small business owner will not be ... |
In order to avoid the contract exceptions to limited liability, a small business owner needs to take care in the way contracts are executed. |
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