Legal Question in Business Law in Florida
In a Florida partnership, is it legal for one partner to sign a document and walk away, leaving the other partner all the debt?
2 Answers from Attorneys
Depending on the partnership agreement, both partners are usually responsible.
If this is partnership debt then the partnership is liable. This means that if you are holding the bag you likely have a claim against your partner to contribute his share of the debt.
Most debt transactions will be clear about who is responsible for it. That is, if you provided a personal guarantee and your partner did not and the partnership cannot pay, then the creditor can only come after you and you would not have a personal claim against your partner.
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