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If a former business partner will not pay back a debt which he personally signed for. Can I file a civil lawsuit against him?
Wiki User
∙ 14y ago
Whoever he borrowed the money from can sue him. If he borrowed funds from the business then the buriness sues him. If it was you, then, yes you can sue him.
Wiki User
∙ 14y ago
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How do you sue business partner for embezzlement and not paying tax?
You have to take them to court and file a lawsuit against them. The judge will decide what the punishment is and what really happened.
Is it necessary to have business partner to do business in Saudi Arabia?
Is it necessary to have business partner to do business in Saudi Arabia?
Can owner of a company be held personally liable?
The owner can be held personally liable for business debts, but it depends on the business structure and what type of contract the owner holds. If the owner is operating a sole proprietorship (he/she is the only owner), the owner and the business are technically considered the same entity, meaning the owner has full personal liability for any business debt. In a partnership, the business belongs to each partner, meaning that business debt also belongs to each partner personally. Each partner is liable for 100% of business debts. The only time an owner is not held personally liable for debts is in a corporation or LLC. In both of these cases, the business and owner are considered separate entities and, in theory, the owner could have no personal liability for business debt. Liability could occur if the owner has signed a personal guarantee, has offered his/her property as collateral, has signed a contract in his/her own name, he/she uses personal loans or credit cards to fund the business, or there is some sort of fraud or sloppy record-keeping.
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What are some practical considerations of taking legal action against a foreign business partner based in another country?
The first consideration you should make is which country the lawsuit should be filed in, which is a decision a lawyer can help you make. You should also make sure that your verdict is recognized in all courts where the judgment needs to be enforced.
Good partner to do business?
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.
How do you take your name off a business license if you have a partner?
hoe do i take a partner of a business license
Which legal forms of business have unlimited liability?
Sole proprietorships and general partnerships have unlimited liability. In a sole proprietorship, the owner is personally responsible for all debts, liabilities, and legal obligations of the business. Similarly, in a general partnership, each partner is personally liable for the partnership's debts and obligations.
What is a strategic business partner?
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.
How do you split assets when one partner leaves a business if a large asset is useless to the person departing?
If one partner is leaving and there are large assets, you have the other partner buy your portion out. If they can not do so, the business is bankrupt, unless you are willing to float a loan to cover the cost of you leaving. I would probably advise against that as the business probably needed both parties to run and I have rarely seen a partner that quits get their money long term if loaned. The business almost always fails and you get less then the person that stayed.
What actors and actresses appeared in Against the Clock - 2014?
The cast of Against the Clock - 2014 includes: Mark Bak as Snake Handler Bernard Bullen as Business Partner Nores Cerfeda as Dad Luke Kaile as Joe Rich Keeble as Rob Cristina Lark as Christina Elena Mazzon as Business Partner Miguel Rufino as Cyclist
How can limited liability be lost by a limited partner?
If the "limited partner" was serving in that capacity at the time of whatever it was that occurred, they continue to enjoy limited immunity for THAT SPECIFIC event even though they may no longer be associated with the business. They are only personally liable for events that preceded or post-dated their limited partner capacity.
