I have high numbers of incoming link from only one website. Will it hurt the website rank?

Selected answers from the Dumb SEO Questions Facebook & G+ community.

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  Fort Minor: I have backlink (footer link) to my site from a PR1 Niche Related Website, Google Webmaster Show around 7,00,000 backlink from that particular website. The website is about music search, please suggest me if there is anything wrong if there's so high numbers of incoming link from only one website. ;
  Thanks!
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  Dave Elliott: music search? do they think you are the hip-hop group fort minor?? Umm its not a good link..... in a footer, site wide, irrelevant( i think anyway...). poor pr. i'd be very tempted to ask them to no follow if you get referral traffic or ask them to get rid of it if you don't.
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  Fort Minor: Thanks Dave Elliott, you mean it is better to remove that link ??
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  Dave Elliott: yeah, if you dont get good referal traffic from the link i would ask for it to be removed. 
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  Fort Minor: Thanks ;Dave Elliott, is there any possibility of being penalized for this reason?
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  Jeenfer Wilson: Yes. There is a big possibility. As Dave mentioned, make them no-follow if it brings in good referral traffic. If not, just remove them.
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  Edwin Jonk: From the expert panel in this weeks SEO Questions hangout on air on 02:16:53 into the YouTube video: https://dumbseoquestions.com/q/i_have_high_numbers_of_incoming_link_from_only_one_website_will_it_hurt_the_website_rank +Fort Minor
  
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