Legal Question in Business Law in New York

General business contract/agreement

If a business contract is sign by a manager or owner of the business, who, after a while leaves the company or dies, is the company still obligated to honor the agreement signed by him/her?


Asked on 12/11/08, 8:42 pm

2 Answers from Attorneys
Kristen Browde Browde Law, P.C.

Re: General business contract/agreement

Yes, absent very unusual circumstances.

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Answered on 12/11/08, 8:47 pm
Alexander Fink The Law Office of Alexander Fink

Re: General business contract/agreement

Generally speaking the answer is yes the company is still obligated. The manager or owner conceivably has authority or what is called "apparent authority" to enter into contracts, which can bind the company.

(NO ATTORNEY CLIENT PRIVILEGE HAS BEEN CONFIRMED. THIS WAS SUBMITTED MERELY FOR DISCUSSION PURPOSES.)

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Answered on 12/12/08, 8:01 am


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