All of the partners are responsible for the debts.
The partnership will probably fail.
they will fall under the Uniform Partnership Act. ( Nova net )
they will fall under the Uniform Partnership Act. ( Nova net )
There was no way for them to collect taxes to pay debts
Sole proprietors are fully and personally responsible for all their business debts. If the business begins to fail, the owner has to do what the have to by all means to pay outstanding obligations, even if they have to sell their own personal property. Us proprietors can limit our liability by buying appropriate insurance. We can DUCK debts by declaring personal bankruptcy.
if partners fail to accomplish with the provisions of law if it now a parnership in nature
Furthering Cat's response, if an estate is opened for some reason, the creditors have a statutory period of time within which to file a claim against it for unpaid debts; it they fail to do so, they cannot collect. That said, if one dies without funds, there is little reason to open an estate. However, if the debt was incurred jointly with another person, the entire responsibility for payment of it becomes that of the survivor.Generally, the local government is responsible for burial when there is no kin or when the next of kin refuses to claim the body and are not legally responsible for the burial. The debts die with the deceased when there are no assets to pay creditors.
The Vehicle & General applied for a winding up petition on 1st march 1971.
Well, either your husband has better credit than you think or he will be denied as a co-signer. The very purpose of using a co-signer is so that someone with questionable credit is supported by a financially stable person who can assume the debt should the primary borrower fail to pay it. That said, if your husband was able to co-sign a loan, the only way you could be held responsible for it is if you live in a state where the law dictates that debts between married people are shared debts.
Vicksburg!
This city is bankrupt and has been for years. Like the State of California is running fast but never will catch up to their debts.
Real easy, no. You don't have to reregister.