Can You Be Personally Responsible When You Sign A Contract As President Of A Corporation?
Ordinarily, the answer is no. However, you must carefully read contract terms before assuming you will not be personally liable for company debts. The Connecticut Supreme Court recently addressed an example where the terms of the contract created personally liability for the president of a company. Yellow Book decisionThe case is Yellow Book Sales v. […]
Supreme Court Offers Another Reminder on Personal Liability for Corporate Officers
Can an officer of a corporation face personal liability in a business transaction? The Connecticut Supreme Court clearly stated that personal liability exists for corporate officers in certain circumstances. The case is Coppola Construction Company, Inc. v. Hoffman Enterprises Limited Partnership. The sole issue on appeal was "whether a corporate principal or officer may be […]