Lets assume you create a Corporation with a single Board Member (ie: Yourself) and you obtains loans from banks for the business and the business fails. Your grand idea goes bust and the doors are closed.
Are you personally liable for any real estate contracts you've signed, POs on Equipment you never paid, money loaned from banks, etc? Or can you just walk away from the defunct business the next day with nothing lost other than whatever you put into the business?
Orignal From: Articles of Incorporation - Liability?
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