Am I responsible to pay back bond money regarding a company that was in my name but run by my ex-husband?

UPDATED: Oct 1, 2022

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Am I responsible to pay back bond money regarding a company that was in my name but run by my ex-husband?

My ex-husband and I open a construction business when we were married. Due to his bad credit/history, we put the business under my name. I went to school and worked at a different job, so my ex ran the business. When we

separated he wrote a document confirming that he was the one who was responsible for the business because I was in school and knew nothing about the construction business. We got divorced and later I found out that the business got sued for a breach of contract and I got a judgment in my name. The bond company paid the bond amount. Now the bond company is suing for the amount they paid. Since both my ex and I were on the bond application, does the amount get split 50/50 for each?

Asked on August 13, 2018 under Business Law, Washington


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Yes, you are responsible if you applied for and signed for the bond, and also because you owed the company. The bond company can sue either or both of you: you are each responsible in full to the bond copmany, so it can recover the money from either of that it wants (or whom it looks more likely to get the money from). You do have the right to sue your ex for his share of the bond if you end up paying more than your fair share.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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