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NSW Contract Law - Contract with Husband Regarding Business Loan?

Discussion in 'Commercial Law Forum' started by Astra, 23 January 2016.

  1. Astra

    Astra Member

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    I have gone into business with my husband. This has been for a grand total of 2 weeks now.

    My relationship with him was very strained before I signed contracts with the bank. I was wondering if I were to draft a contract stating that from this date my husband is the sole proprietor of the business and have him sign it, will this stand up in court if, by any chance, he goes bankrupt down the track under Contract Law as my name is on the business loan?
     
  2. Rod

    Rod Well-Known Member

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    May not be that simple. You need to consider loan repayments, what happens if you split, etc.
     

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