We'll help you find the right solution for your needs
Does this sound like your topic?
I am the owner of a s-corp.... my company vehicle was lent to a friend by my business partner. The borrower was involved in a 1-car accident; side swiping a pole in a parking lot. Not major, but still will be relatively expensive. I would rather not put it through my insurance as there was a similar $ claim last year, as well as a couple of moving violations by my business partner. The borrower has agreed to pay in full for the damages without me having to make a claim. If I allow them to pay for the damages, and the car is fixed... would they have any legal recourse after the fact to claim that I was financially responsible under vicarious liability, and therefore forcing me to reimburse them for their outlay? Thank you for your time.Sorry about the confusion, I added the S-corp reference after completing the post. I thought it would be less confusing to write in first person. I'm a 50% shareholder in the corporation. The fear is that the borrower of the vehicle pays to fix the damage but then seeks a refund; because they feel that the corporations insurance should have been responsible all along. At this point the person is willing to pay for damages because of a feeling of personal responsibility, but also because they feel that they are liable by law. From what I have read, they are not personally liable since the car was borrowed with consent. I just the worry that they can change their mind after the fact, and create larger hassles. I guess it's a silly question!
Sign up to receive a 3-part series of useful information and advice about personal injury law.