If articles of incorporation are supposed to be prepared by a lawyer and the partners of a business are told they will be formed by may 3rd and the partners begin conducting businss on the 4th are they held personally liable if anything were to happen? After all the lawyer saud it was all taken care of........??
The lawyers word is less valuable than a the prediction of a weatherman in West Texas: Something always happens, and a reasonable person should know that.
I am not a lawyer, but I can provide some general information on this topic. It's important to consult with a lawyer for advice tailored to your specific situation.
When starting a business, it is generally recommended to consult with a lawyer to properly prepare and file the necessary legal documents, such as the articles of incorporation. These documents help establish the legal framework and protect the partners by creating a separate legal entity (such as a corporation) that can shield personal assets from business liabilities.
If the partners were told that the articles of incorporation would be prepared by May 3rd but they begin conducting business on May 4th without the articles being filed, it could potentially expose them to personal liability in case anything goes wrong.
While the lawyer's assurance is important, it's up to the partners to ensure that all necessary legal requirements are fulfilled. If the partners proceeded with business activities without the proper legal structure in place, it could undermine the liability protection typically afforded by incorporating.
To avoid personal liability, it is advisable to consult with a lawyer promptly to determine the appropriate steps to rectify the situation. This may involve filing the articles of incorporation and taking any other necessary actions to establish the business as a separate legal entity.
Again, please note that this response does not constitute legal advice. It is essential to consult with a qualified attorney to get specific guidance related to your situation.