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INFOLAWYER
INFOLAWYER, Attorney
Category: Business Law
Satisfied Customers: 53839
Experience:  LICENSED BUSINESS LAWYER
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I entered a business partnership with two friends for a small

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I entered a business partnership with two friends for a small retail venture. In our optimism, we didn't create a buy-sell agreement. I recently decided to leave the partnership and they paid back the overhead expenses I'd contributed and a very small amount towards time worked.

I accepted this payment but have come to believe that I shouldn't have. What are my rights and possible courses of action at this point, if any?

I can't afford large legal fees. The 5-month old business grosses maybe $2-3000 per month.

Thanks.
How much are you still owed?
Customer: replied 6 years ago.
The issue is really did I settle for an amount much less than I should have. I accepted $1220 for the buyout of my 20% partnership. Do I have any rights to ask/demand more?
You do not if you signed an agreement by which you took X as full settlement.
Customer: replied 6 years ago.
I did not sign an agreement. I was offered one of three options in an email and I accepted and cashed a check, but there was no formal contract. Does that matter?
Given the payment and e-mail you wont not be able to pursue more money now.
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