Q: Can a contract signed by a canceled LLC be set aside as an invalid transaction?
Sales contract asserted to be fraudulent on several levels was signed by an LLC that that had been canceled under Va. Law five months earlier. Can a plaintiff assert that the contract as written was invalid due to the status of the LLC and as such void the contract or hold parts invalid
A: Yes they can. An LLC must be considered active with the SCC to be able to conduct transactions.
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