Hi, over a year ago I signed a partnership agreement with a business partner in the United States. This partner has not made any payments. This person proceeded to convert the partnership to an LLC. Is there any possible remedy?
No there wasn't many assets in the partnership. The income expected was more supplementary to my main income. It was significant but not extraordinary.
The contract, from what I can gather, wasn't legally drawn up. It was a template partnership agreement; is that still a valid partnership agreement? There was consideration, the address of the partnership, my ownership detailed, and duties that I was to perform. I don't really want to send it on this site, but, generally, could it be valid provided it's from a template? I'm planning on seeing a solicitor soon.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).