Legal Question in Business Law in California
shut down a business
my previuos question was that i closed down a general partnership and added that we had some advertisement bills like yellowpages and idearc media accrued over time not paid. the reply was that we had to clean those payments up. Now i would like to ask that some these payments are continuing, are we still responsible on those or we are only responsible for the payments until the closing date of the business. Also can i call these advertisement companies and request payment schedule to pay it up?
1 Answer from Attorneys
Re: shut down a business
You and the other partner(s) are still responsible for the contracts the partnership entered into. Closing the business did not void those contracts.
Can you request a payment schedule? Of course. You can request anything you want. The creditors are not required to agree, but it probably won't hurt to ask.
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