If a Partner Takes Out a Loan on Behalf of a Partnership, Can He Force His Partner to Repay Him Out of Pocket?
In the last segment, we discussed a case where one partner takes out a line of credit for a business under his name and wants to recoup the loan plus interest from his other partner. What if the business goes under and there are no profits or principal left? Can he force his partner to repay him out of pocket?
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