MORAL OBLIGATION
QUESTION: I’m President of a large condo association. The board found that bills were not paid to some vendors almost 10 years ago and the vendors have written the amounts off as bad debt. However, some board members want to go back and pay those old debts. We have had a large turnover in owners. Is it fair to ask those new owners to pay for this old debt?ANSWER: Whether legally obligated or not, the association is morally obligated to pay the debt. To not pay for benefits received when the association has the ability to do so is in effect a theft of goods and services from those vendors.
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