Legal Question in Business Law in Florida

if a person is in business and has a business note with his ex partner and business is not doing the numbers to pay the note, is there anything that can be done? is the contract binding if the contract was done under the old business name? if a person was to close the exsisting name or corp would he still br responsible for the note


Asked on 8/15/13, 6:58 am

2 Answers from Attorneys
Byron Petersen Byron G. Petersen P.A.

From Byron Petersen:

I am having some troubles understanding "a business note" in comparison to a "binding contract", though one thing is certain: If a corporation goes under the corporation's debts are not extinguished unless you have a contract(s) that says differently. There are two exceptions: a Federal Bankruptcy and a State Receivership.

As to a Florida Receivership, see if this helps: law.onecle.com/florida/business-organizations/617.1432.html

Byron Petersen

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Answered on 8/15/13, 11:22 am
David Slater David P. Slater, Esq.

If it was signed in an individual capacity, yes.

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Answered on 8/15/13, 2:28 pm


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