A Texas limited liability company (LLC) is owned by members and managed by members, managers, or both. A Texas LLC can have one member or more than one member. This article describes Texas law. LLC’s formed in other states may be subject to slightly different rules and filing requirements. The Certificate of Formation filed with […]
Reprinted from the October 23, 2014 Mongoose newsletter. A business owner, including a shareholder of a closely held corporation, can testify as to the company’s value and does not have to be designated as an expert witness. Red Sea Gaming, Inc. v. Block Investments (Nevada) Co., 338 S.W.3d 562 (Tex. App. – El Paso 2010, […]
Hooray for the attorney who cites a case from 1889 and wins! Perhaps we all should review Schmidt v. Huppman, 11 S.W. 175 (Tex. 1889), which held “Where it satisfactorily appears, as in this case, that one spouse brought into the partnership separate funds invested in a particular business, which business was carried on and […]
