Question
Is an Insurance Policy a leagle document even though I didnt sign it?
I've been thinking about starting a small business installing floors and my buddy was wanting partnership. When I was at work his wife went and took out Genral Liability and Workmans Comp policy under the name of a business I was gonna licsinse and my name is on there as owner. I had no knowledge of this untill I got off and saw the policy she surprised me with. Is it leagle? Will I be billed?
1 month ago - 3 answers
Best Answer
Chosen by Asker
Whose name did she sign? If YOU didn't license the name, then this isn't your business! And if SHE didn't put money down, the policy didn't HAPPEN yet. But if there is a partnership, only one partner has to sign.
by mbrcatz
1 month ago
Asker's Rating: 
Other Answers
No, you aren't, unless you have a legally binding contract that set up the partnershp. this is why you never, ever, form partnerships unless you cannot get the business up any other way. If you had formed a legal partnership (notarized and filed with the state) you'd be liable for the debt. Otherwise, you aren't. If you want to form a partnership with this guy, then look at an LLC...limited liability company. You can chose to be taxed at the partnership level, but you'll only be liable for those things you do. You can set them up with the state for relatively little money. Mr. Pickle, please allow the gentleman the leeway to make mistakes on spelling. I'm sure he knows far more about laminate, hardwood, and tile flooring than you do. If I were hiring him, I'd rather know he is an expert in doing the flooring and not in spelling. Stop trying to be Yahoo's spellchecker and stick to what you know.
by JoeyIngles- 1 month ago
Legal is spelled l-e-g-a-l. Spelling it your way would make illeagle a sick bird. License is spelled l-i-c-e-n-s-e. If you didn't take out the policy then you don't have to pay. But, I would suggest checking your spelling and read the question to make sure it makes sense before posting. It was hard to follow.
by Insurance Pickle.com- 1 month ago