India  |  Business Law

Legal Question

Asked on: 5/23/13, 10:42 am

Mr. Lawguru, we have started a partnership firm (2 partners) and taken a loan to start it a year ago. My partner wants to have the whole business and at that time bank and he verbally said that if i will sign and handover the business to my partner then i will be free from the liability of loan.After signature on that dissolution deed he and bank refused and said i am fully liable for loan.What can i do now. Can this dissollution deed be cancelled?Or is their any other option.What should i do?

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