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Attorney Arcadier
Attorney Arcadier, Attorney
Category: Business Law
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Experience:  Contract questions and Incorporation questions answered.
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In california, can you use a general partnership agreement

Customer Question

In california, can you use a general partnership agreement between two parties to bind a corporation with just one party? For example, if things head south with the partnership agreement, could you use that to levy the corporation?
Submitted: 4 years ago.
Category: Business Law
Expert:  Attorney Arcadier replied 4 years ago.
No. You can levy the partner's interests in the corporation only.
Customer: replied 4 years ago.

So, if they're the only interest in the corporation at that time, then the partner of the partnership can levy ALL of the corporation?

 

***Also wanted to add, the corporation and the partnership's name are all the same with both parties on the partnership but only one of the partners on the corporation.

Expert:  Attorney Arcadier replied 4 years ago.
So long as the agreement says so

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