Leonard, an accountant, was negligent in filing the taxes of Big Corporation. In settlement of...
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Leonard, an accountant, was negligent in filing the taxes of Big Corporation. In settlement of Big Corporations claim against him, Leonard signed a promissory note for $10,400 on behalf of his accounting firm, an LLP. When the law firm did not pay, Anthony filed suit against Leonard personally for payment of the note. Is a member personally liable for the debt of an LLP that was caused by his own negligence?
Would you answer change if the facts were slightly different:
- What if Leonard acted recklessly while working for the Limited Liability Company?
- What if Leonard was negligent while working for a corporation or Limited partnership?
Leonard, an accountant, was negligent in filing the taxes of Big Corporation. In settlement of Big Corporations claim against him, Leonard signed a promissory note for $10,400 on behalf of his accounting firm, an LLP. When the law firm did not pay, Anthony filed suit against Leonard personally for payment of the note. Is a member personally liable for the debt of an LLP that was caused by his own negligence?
Would you answer change if the facts were slightly different:
- What if Leonard acted recklessly while working for the Limited Liability Company?
- What if Leonard was negligent while working for a corporation or Limited partnership?
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