Dan and Lori Cole operated a Curves franchise exercise facility in Angola, Indiana, as a partnership. The

Question:

Dan and Lori Cole operated a Curves franchise exercise facility in Angola, Indiana, as a The firm leased commercial space from Flying Cat, LLC, for a renewable three-year term and renewed the lease for a second three- year term. But two years after the renewal, the Coles divorced. By the end of the second term, Flying Cat was owed more than $ 21,000 on the lease. Without telling the landlord about the divorce, Lori signed another extension. More rent went unpaid. Flying Cat obtained a judgment in an Indiana state court against the for almost $ 50,000. Can Dan be held liable? Why or why not?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...