If I dissolve my business, am I obligated to provide contractually agreed to group classes?
Question Details: I am an S-Corp and LLC dog training business. I will likely be closing my business. No brick and mortar but I do have contracts that have been signed by clients giving them 1 years worth of group classes.
If you personally signed the contracts, in your individual capacity and not on behalf of the LLC or S-corp (so that you, not the business entity[ies] are the party to the contract), then you would be obligated to provide the classes. But if the LLC or S-corp was the signatory and party to the contracts, it, not you, is obligated; so if the business entity closes down, you would have no personal liability.
The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you go to AttorneyPages.com
and retain an attorney to represent you.