Back to search
The question

Is the partner still responsible for the debts he personally committed to paying after an agreement to divide debts and assets and inform the creditors?

Share this answer

Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The fundamental principle in partnerships is that profit and loss are distributed among the partners according to each one's share. The company's debts are paid from its capital, and whatever remains thereafter is divided between the two partners according to their respective shares. An agreement between the two partners to distribute debts among themselves does not obligate the creditors, as they have the right to demand payment from either partner, considering the company as a single entity, unless the creditors agree to this distribution. If you pay debts that your partner guaranteed, you have the right to claim reimbursement from him for what you have paid.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
65543
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy