Mailing List lml@lancaironline.net Message #44093
From: rtitsworth <rtitsworth@mindspring.com>
Sender: <marv@lancaironline.net>
Subject: RE: [LML] product liability
Date: Thu, 20 Sep 2007 10:24:46 -0400
To: <lml@lancaironline.net>

Note, the FAA normally requires a “builder” to be a human (same for the name on the repairman certificate).  You can register the “owner” of the aircraft as a non-human entity.  However, future lawsuits could still be directed toward you personally as the “builder”.  Some folks have got a non-human entity listed as the builder with the FAA – but that is not the normal FAA process/policy.

(only my understanding)

Rick

 


From: Lancair Mailing List [mailto:lml@lancaironline.net] On Behalf Of Russell
Sent: Thursday, September 20, 2007 8:31 AM
To: lml@lancaironline.net
Subject: [LML] product liability

 

Years ago I was involved with the company that manufactured cloth towel cabinets used in public restrooms.  To our surprise kids were hanging in themselves in the loop of the towel.  We had several lawsuits and we were able defend ourselves.  It was very costly. The interesting thing was many of these cabinets were over 30 to 40 years old and rebuilt by other companies.  We ended up taking steps of plastering warning labels and specials shields on the cabinets.  It seemed to work. But presently you do not see this product on the market in this country any more.

 

I’m about to start building my legacy and I’m very concerned about liability.  Something no one mentioned but I am doing is creating a company for the aircraft.  I am going to build the aircraft under the entity other than myself.  Whenever it’s time to depart with the aircraft the company will be sold with its assets.  It happens to be the only asset will be the aircraft.  After putting my blood sweat and tears into this project there is no way I can take a chainsaw to it.  So creating layers of protection is the only way to cover ones behind.

 

Russell


No virus found in this outgoing message.
Checked by AVG Free Edition.
Version: 7.5.487 / Virus Database: 269.13.22/1013 - Release Date: 9/17/2007 1:29 PM

Subscribe (FEED) Subscribe (DIGEST) Subscribe (INDEX) Unsubscribe Mail to Listmaster