Limited liability companies can enter into contracts only if the owners execute personal guarantees.

Question

Quizplus · Accepted Answer

Limited liability companies are separate legal entities, so they can enter into contracts and conduct business on their own without requiring their owners to execute personal guarantees. This is one of the primary advantages of forming an LLC, as it helps protect the owners' personal assets from any debts or liabilities incurred by the business.

Limited Liability Companies Can Enter into Contracts Only If the Owners