Explain advising landscaping businesses to incorporate

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Reference no: EM13111541

Jim inherited his father's landscaping business as well as incorporated the business after he read an article in Lawn News advising landscaping businesses to incorporate. Jim has been prosecuted by a customer, whose prize rose bushes were accidentally damaged by a landscaper. Jim called his attorney, Hector to represent him in the lawsuit. When Hector asked for the corporate minutes Jim said, What corporate minutes? Hector directed Jim that his personal assets could be taken if he lost the suit, but Jim said, No, don't worry! I'm a corporation I have no personal liability Is Jim correct? Identify as well as discuss the legal principle that would be applied by a court to resolve this issue and predict the outcome of the suit against Jim.

Reference no: EM13111541

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