Iron Clad Contract

[Chuck Lambert]

Is there an "iron clad" contract that would make a lawsuit (California) unlikely?

I wish there was, that creature does not exist here. In California anyone can sue anyone for any reason, the lawyers sort it out in court.

Your best bet is do the best inspection possible for your client. Remember here in CA you are on the hook for 4 years!!

Chuck

[James A. Levy]

Originally Posted by gromicko

I'm the all-time king of asset protection... and I'm a bit of an ****hole on top of it. Basically indestructible from an asset protection standpoint. When I tell someone "so sue me," I'm essentially inviting them to waste their money.

Consumer fraud is the only thing that can pierce the Corporate Vail that I am aware of. Due to the tax structure of an s corp., I would do an LLC and have insurance. The insurance is the pot that the bottom feeders will attack. If you do not have it, they will go looking for some other pot to attack.

Whether you are an S corp. or an LLC someone can still file a suit against you. They then try to pierce the vail. If they are unsuccessful, you will have hemorrhaged legal fees and will have probably settled the case to get them off your back.

Get insurance and do a good job. Combine that with communicating with you client, good or bad and you should stay out of court.

[Nick Gromicko]

You can count on 1 or 2 hands the number of times a corporate vale has been pierced. You almost have to commit a crime.

[James A. Levy]

Originally Posted by gromicko

You can count on 1 or 2 hands the number of times a corporate vale has been pierced. You almost have to commit a crime.

Yes I agree, consumer fraud is the only thing that I can think of. There may be others, I just am not aware of them.