Legal Question in Business Law in California
A company is forced to shut down because a partner 'b' (who signed an equity/investment agreement) failed to invest in the company and the company was relying on this monthly investment to survive. Should partner 'a' file a small claim against partner 'b' as an individual or as the company? This question is because the company will have ceased operating by the time of the small claim hearing.
Asked on 2/02/14, 7:40 am
1 Answer from Attorneys
That depends on who the agreement was with. The fact that the company will cease operating is irrelevant. A partnership continues to exist until its affairs are wound up, even after it ceases regular business.
Answered on 2/02/14, 9:14 am
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