Do the § 465 At-Risk Rules Apply to Partnerships, LLCs

question 113

Essay

Do the § 465 at-risk rules apply to partnerships, LLCs, and S corporations?

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Definitions:

Agency Agreement

An agreement creating an agency relationship between principal and agent.

Representation

In law, a statement of fact made to induce someone into a contract or a presentation by one party in a lawsuit on behalf of another.

Tort

An action that causes harm or injury to another person.

Estoppel

A legal principle that prevents someone from arguing something contrary to a claim they previously made or an action they took.