You Must Prove Damages With Reasonable Certainty In Business Lawsuits
Determining if you have provable damages is often the first step in analyzing whether to pursue a business lawsuit as a shareholder, partner, or member of a limited liability company. Likewise, if you have been sued as a result of a partnership or shareholder dispute, reviewing the exposure or possible damages you face is an […]
Member Rights For Connecticut Limited Liability Company
Generally, there are two sources to determine the rights and duties of members of a Connecticut limited liability company (“LLC”). The first source is an operating agreement. The ability to form a limited liability company (“LLC”) as a legal entity in Connecticut derives from legislative enactment. Title 34 of Connecticut General Statutes covers LLC’s. Title 34 […]
Does A Limited Liability Company Protect Its Members From Personal Tort Liability?
Not always. An individual member of an LLC or an officer of a corporation may be individually liable for their own torts. This rule is well settled and the Connecticut Supreme Court reaffirmed it in Strum v. Harb Development, which will be officially released on August 31, 2010. Business owners often chose to a form a […]