My business partner and I took out a business loan. My business partner then moved overseas and has decided to not come back to Australia nor pay any of his financial obligations. I changed the business to my name and therefore changed the business to a sole trader - therefore I have a different ABN now.
The paperwork for the contract was signed only by my business partner, apart from me signing as a witness. I also signed on the joint bank account but no details of my name were on the contract. Of course the partnership ABN was listed on the paperwork.
I am guessing that I am liable for the loan agreement, but I am wanting to confirm that that is truly the case?
Many thanks
The paperwork for the contract was signed only by my business partner, apart from me signing as a witness. I also signed on the joint bank account but no details of my name were on the contract. Of course the partnership ABN was listed on the paperwork.
I am guessing that I am liable for the loan agreement, but I am wanting to confirm that that is truly the case?
Many thanks