if a person is in business and has a business note with his ex partner and business is not doing the numbers to pay the note, is there anything that can be done? is the contract binding if the contract was done under the old business name? if a person was to close the exsisting name or corp would he still br responsible for the note
Asked on 8/15/13, 6:58 am
2 Answers from Attorneys
Byron Petersen
Byron G. Petersen P.A.
From Byron Petersen:
I am having some troubles understanding "a business note" in comparison to a "binding contract", though one thing is certain: If a corporation goes under the corporation's debts are not extinguished unless you have a contract(s) that says differently. There are two exceptions: a Federal Bankruptcy and a State Receivership.
As to a Florida Receivership, see if this helps: law.onecle.com/florida/business-organizations/617.1432.html
Byron Petersen
Answered on 8/15/13, 11:22 am
David Slater
David P. Slater, Esq.
If it was signed in an individual capacity, yes.
Answered on 8/15/13, 2:28 pm
Related Questions & Answers
-
I took a job with a consultant group that does foreclosure rescue in palm beach... Asked 8/08/13, 3:44 pm in United States Florida Business Law
-
How do I make my Florida UCC-1 secured party filing legally effective? Asked 8/05/13, 11:42 am in United States Florida Business Law
