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  #1  
Old 10-31-2001, 12:28 PM
Guido Guido is offline
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Location: North Las Vegas, Nevada
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Great Turn Out Here!!

I was shocked when I checked in here just now to see 15 posts on this page form the last day! Usually its just a handfull or less if any. I guess this section is finally catching on, huh?

Glad to see it, lets all keep active guys!
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  #2  
Old 10-31-2001, 08:59 PM
Lanelle Lanelle is offline
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Location: No.VA, zone 7
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Yes, its fun to see so many posts on this forum now. And in a move uncharacteristic for me, I'm going to offer a challenge. Put on your thinking caps and keep it clean and calm, ok? (no, that's not supposed to be challenging)
Here's the 'real' challenge:
In responding to the thread about winning a judgement, a member has made a comment about being judgement-proof. Do you think he is or is not, and why.
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Old 10-31-2001, 09:47 PM
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1MajorTom 1MajorTom is offline
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Location: Pennsylvania
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Quote: In responding to the thread about winning a judgement, a member has made a comment about being judgement-proof. Do you think he is or is not, and why.


It depends upon how his business is set up.

If he is set up as a sole proprietor, then no I do not believe he is judgement proof.

As a corporation, then yes, he may very well be. Who knows, maybe he took advantage of the two corporation strategy.
Remember, Nevada is the best state to incorporate.
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Old 11-01-2001, 08:26 AM
HBFOXJr HBFOXJr is offline
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Location: Southern New Jersey
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In cases of negligence no one is "judgement proof".

Maybe the courts can't seize assets you don't own but hey can make you pay and you might have to go cash in other stuff not related in order to pay.

It ain't that easy except maybe for bankruptsy.
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Old 11-01-2001, 12:05 PM
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Stonehenge Stonehenge is offline
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Location: Midwest
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I like the challenge and I think I know who you're talking about...Was the thread recent? I'd like to have a re-look.
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  #6  
Old 11-01-2001, 12:28 PM
SprinklerGuy SprinklerGuy is offline
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Join Date: Oct 2001
Location: Scottsdale, Arizona/Colorado Springs, Colorado
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Being a sole prop makes him extremely sensitive to judgement whether or not he owns anything. He can claim all he wants that he leases his equip from mom, it doesn'tmatter. They will check to see who is the principle of the business by checking bank accounts, deposit records and who is actually running the day to days of the business and then the will HAMMER HIM.
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Old 11-01-2001, 04:34 PM
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1MajorTom 1MajorTom is offline
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Stonehenge:

Here's the thread...
http://www.lawnsite.com/showthread.php?threadid=21400
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  #8  
Old 11-01-2001, 06:28 PM
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Stonehenge Stonehenge is offline
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Location: Midwest
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Hmmm. I've never even heard of a limited proprietorship. Maybe it's something new over the last 5 years or so?

As such, I can't speak with any authority. But I know that as a sole prop, they can take your home and everything in it.
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  #9  
Old 11-03-2001, 05:21 AM
John Allin John Allin is offline
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Location: Erie, PA
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Unless you are insured properly......
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  #10  
Old 11-03-2001, 09:11 AM
SprinklerGuy SprinklerGuy is offline
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Insurance doesn't matter, if your guys kill a guy in a traffic accident you can bet your ass that your insurance company will do everything they can to 'LOSE YOUR NAME AND NUMBER'. The only way to truly protect your personal property is to be incorporated....or to not have any.
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