Want this question answered?
Probably yes.
When you file a mutual bankruptcy, you and your partner file a single set of bankruptcy papers with the court. In your bankruptcy appeal, you release all property, debt, income, and expenses you have between both you and your partner.
Ralph C. Anzivino has written: 'Partner and Partnership Bankruptcy (Bankruptcy Practice Library)' 'Partner and Partnership Bankruptcy' -- subject(s): Bankruptcy, Partnership 'Partner and Partnership Bankruptcy, 1994 Cumulative Supplement No 1 (Bankruptcy Practice Library)'
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
If you have filed for bankruptcy as an individual, rather than as a couple, then you are only filing on your personal debts. Following this logic, only those funds that are yours (so your share of the bank account, if that is possible) will be "up for grabs." Your bankruptcy status should not have an effect on your partner.
You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.
Is it necessary to have business partner to do business in Saudi Arabia?
The population of EDB Business Partner is 2,009.
There are a few good people you can partner with to do a business with. I would ask someone you know that has business experience.
hoe do i take a partner of a business license
A strategic business partner is another business that helps you meet your organizational goals. Since it is a partnership, your business helps them as well.
What happens when a partner dies in business depends on the contract. Many people may write a contract that replaces a partner with a family member of the partner.