Ask a Lawyer and Get Answers to Your Legal Questions
Whatever contract or agreement that the 3 parties had with regards ***** ***** would be in effect regardless of the primary accountholder's bankruptcy.
(Remember, the bankruptcy affected the accountholder's contractual relationship with the creditor (the card company), it did not change their contract rights with other parties).
There are some additional nuances to this with regard to the trustee and creditor's rights, that would affect their claims to this repayment (most of these become moot in the vast majority of bankruptcies), but they do not affect the business partner's liability in any way.
Yes, an oral contract is enforceable, just like a written contract. The problems with these agreements obviously lies in it being much harder to definitively state what the terms were (they aren't spelled out in a contract), but you can still sue to enforce an oral contract, and the enforce the judgment.