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Message
From
12/07/2002 15:54:34
 
General information
Forum:
Visual FoxPro
Category:
Contracts, agreements and general business
Miscellaneous
Thread ID:
00673693
Message ID:
00678262
Views:
18
>LLC's are a new beast. They don't have the formalities of a corporation, but they get the tax benefits of a partnership. Because they are new, the case law on how to pierce the veil is rather mixed. In some states, LLC's actually offer more protection than corporations. In other states, they offer less. Also remember that the liability protection a corporation provides is not presumed. i.e., if you have not kept up formalities, if you have co-mingled funds, etc, the veil can be pierced.

Apparently Utah is one place where you get less protection.

>
>As for getting at what the law is, your best bet is to check out resources like ALR (American Law Reports). Lawyers go through the work of distilling down all the cases to give you a picture by jurisdiction. I use ALR a lot for leagal research. And, when a lawyer gets into an area that he is not familar with, ALR is a great way to get up to speed on a particular area of law.

I use a local firm that I pay through Prepaid Legal Services. They have experts in many areas of law. I have yet to find a problem that one of the attorneys on staff can't handle. I've recently been working with two attorneys there, each for a different type of issue.

>
>If you have a law school near you, in the spirit of what the law is supposed to be about, open their doors to the public. My law school (Rutgers) does.
>

An excellent suggestion. We have two law schools here. One at the University of Utah and the other at BYU.
Craig Berntson
MCSD, Microsoft .Net MVP, Grape City Community Influencer
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