In a message dated 12/17/02 2:30:29 PM, [EMAIL PROTECTED] writes: << Fred Foldvary wrote:
> U.S. and State laws limit this liability, but in a pure market, the > directors should be personally and fully liable for a > corporation's debts, > as would be the general partners of a partnership. In a pure market, shouldn't the directors be personally liable, or not, for a corporations debts, based on whatever terms they reach with the lenders involved? The directors of *small* corporations certainly find themselves in that position today. Without a personal guarrantee, from a primary stakeholder, that serves to turn a limited liability into a full liability, lenders are not very willing to make loans. Cheers, Michael Giesbrecht Internet Engineering Lucasfilm Ltd. >> But what about contingent creditors of the corporation--that is, what about potential future tort victims? How liability to them be negotiated in advance? David P.S. Any news on when Star Wars Episode III will release? :)
