My business partner is involved in a lawsuit .Can this affect our business?

W

Will

New member
His lawsuit stems from a previous business. Our business is formed in an LLC. He should have the cash to pay out judgement if one is found against him.
 
Cleveland 06/12/09

The answer ,..A big Yes,..! If the offense,neglect, personal injury, etc
occurred on the premises ( very grounds ) of the business the busi-
ness will be involved,..The suit will almost always be to recover from damages which the business be responsible for,..

If the offense / injury occured away from the business - for instance;
What if the injured person do not know your partner is in business,..
and, he or, she wants to recover from the injury,..A car accident,
maybe,. A slander stunt,.? the suit should not involve the business
- unless the injury involved the business's vehicle ( not personal ).

if you are a full partner ( equal percent of ownership ) you may be responsible for probably half or,..as much as required for settlement,..
If the offense occured prior to your to becoming partners - then,the suit should be his responsibility alone,..

Eliasis Yahwehei ( The Main Man )
 
Since his lawsuit stems from his own previous businesses, I do not see it affecting your own business partnership or group with him at the moment. His lawsuit doesn't concerned your present business or businesses with him so I do not see the connection whatsoever with the status of your joined venture. Yes, he should have the cash to pay out without dealing directly with your own present business partnership involvement.
 
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