Legal Question in Business Law in California

Re: Partnership credit problem

You can, with the permission of the holder of the card, use any credit card to purchase products or services for your company. The real problem is fulfilling your obligation to reimburse the card owner.

The card owner neen not be employed by or related to the company.

He is a guarantor.

Re: Partnership credit problem

there are many ways that you can structure the relationship that you describe ca;; me at 212 683 8677 for free telephone consultation

Re: Partnership credit problem

Bad idea all the way around. I really should be answering this on behalf of your friend and telling him/her don't do it. You're using somebody else's credit because you don't have a credit card tells me a great deal about your history and probably your future. If you can get a credit card how can you run a business that will operate throughout the United States. You need a great deal of business help. Not the kind that allows you to use their credit but the kind he gets you credit allows you to operate your business successfully.I have been practicing law in this legal area for over 30 years and understand your problem well. I practice in the S.F. Bay Area and if you wish to contact me call at 925-945-6000.

Re: Partnership credit problem

It is not necessary to make your friend an employee. You need a contract with your friend to make purchases on behalf of your company and for you to reimburse him. You may even want to pay him a small transaction fee each time such a purchase is made. If you wish to arrange a consultation to draft such a contract, you may call us at (212) 267-7000

Re: Partnership credit problem

There are several different ways to use your friend's credit for the benefit of your business. Some options include a simple loan agreement, having your friend a line of credit to your business, having your friend join your business as a member in exchange for his credit, etc.

You should contact a business attorney for assistance in this matter. Feel free to contact my office.