Father and two siblings put farm into LLC (split 50/25/25). One of the siblings is going to nursing home and selling their membership units (25%). An agreed price has been established for units. Should the LLC buy the seller's units and then sell them to me? OR Should I buy into the LLC first? What... Read more »
You need to hire a professional. There's a few things in your question that are not correct in regards to how an LLC functions. You're going to need more detailed advice than should be given through this forum.
for example: Courts also look at the price of the contract in determining whether certain damages for breach of that contract are proper. A lack of proportion between the two numbers is an indication that the requested damages are improper. In other words, if a party is only be paid a small amount... Read more »
There are, but “damages” is a broad subject, where there are different types of damages, such as compensatory, punitive, consequential, among others. If this is for general knowledge or research, you can find a great deal of information on the subject of damages. If this is for an actual...Read more »
I have an LLC, but they insist I also need to be named a Leasee individually. The purpose of the LLC is to maintain separation from me individually, so I don't want to be on the Lease as an individual, just the LLC. Is this legal?
Unless Iowa-specific state statutes or court decisions say otherwise, a landlord or other creditor is entitled to ask for a personal guarantee from a corporation's principals. You are also entitled to say no.
Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general information that is given for legal education only. It is not legal advice, and it may not work for your specific situation. It is...Read more »
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