Legal Question in Business Law in North Dakota

Re: General Partnership and Financing

Your partner can apply for any credit card s/he desires, just as you can. This does not say that the company issuing the card will grant the application; that depends on credit scores and other financial info to which I am not privy. It just says that your partner (or you) can apply.

BTW, general partnerships can be dangerous things. Did you consult an attorney before forming this entity? If not, YOU AND YOUR PARTNER BOTH NEED TO DO SO!!!!!!!!!!!! Sooner rather than later. This is VERY VERY important in the case of a general partnership.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Re: General Partnership and Financing

I would NEVER advise a business client to go into a General Partnership under ANY circumstances.

You need to set up an LLC, then obtain financing from whatever source you can, keeping in mind LLC will be on the hook normally for any personal credit of the owners.

Call or email for further assistance.