If I’m president of a corporation but have no control of operations and there is a loan that is due that the company is going to default on, am I personally reponsible for it?
UPDATED: Mar 27, 2013
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If I’m president of a corporation but have no control of operations and there is a loan that is due that the company is going to default on, am I personally reponsible for it?
There is a loan that is due that the company is going to default on. I have only signed a corporate resolution so the corporation could barrow money. I am not signed on the note.
Asked on March 27, 2013 under Business Law, Idaho
Answers:
Elena Eckert
Answered 10 years ago | Contributor
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