I have many times looked at this agreement, but I have gone to the file and it is not there. I will have to see where I have put it and look how it was signed. I can tell you that my farther only bought the assets off them. I will look for the document and will advise. Kind regards
The business was a partnership and not Limited is this the information you require.
Ok - and now is he a sole trader, ie was he involved in the business before?
No. When my farther bought the assets he set the business up with a new bank account and as a parnership with my mother and when I bought it I have set it up as a partnership with my wife. I have just asked my farther who has told me that the agreement which was written by the other party did put the company as limited, however, he has looked at a copy of thier old accounts which states it was a partnership
Ok - so it went from a partnership and he brought the assets, is that right?
OK- then you are not liable.
This is because the old agreement ended when the partnership as dissolved.
As you are not a party to the agreement you can not be held liable for it
If it had been signed by a Limited company then that would be different. If you had purchased the Limited company then in this case the Company would be the party and you would have purchased it
But in this case that has not happened. As an individual you can't be held liable for something you did not sign
Can I clarify anything for you about this today please?
he is now the new owner of the other business and he did say that as I do what the contract asks then by definition I agree to it?
No, you dont need to. Its a commercial decision for you.
But you are not bound
Does that help?
Yes Thank you
Can I help with anything else today?