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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Attorney
Category: Business Law
Satisfied Customers: 1732
Experience:  Practicing Attorney with 10 years experience
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I formed a business with a few friends and the partnership

Customer Question

I formed a business with a few friends and the partnership seems to have gone down hill, i am slowly getting left out of email and discussions on business matters. I recently asked to take a look at the books to see what my financial liability was and was told that i would not be able to. And that even if i was it would have to be with another partner.
I am hoping to get my self out of the partnership and wanted to know the best route.
Submitted: 1 month ago.
Category: Business Law
Expert:  Asad Rahman replied 1 month ago.

Does your business have any sort of bylaws? That would tell us the route prescribed for how a member can exit. As a partner you are entitled to the financials under the Texas Business Code. That is critical in determining whether you are being lied to about the financial status of the business and to estimate the value of your ownership share.

Customer: replied 1 month ago.
the only bylaws that were signed were the standard Legalzoom formation documents. How can I go about requesting that information with out having to file? i am tied to all credit accounts as well as the checking account. but do not have any of the billings information.
Expert:  Asad Rahman replied 1 month ago.

If they are not responding to your requests, you may want to consider having an attorney send a demand.

Expert:  Asad Rahman replied 1 month ago.

Let me know if you have any additional questions. Otherwise a positive rating would be appreciated.

Expert:  Asad Rahman replied 1 month ago.

Let me know if you have any additional questions. Otherwise a positive rating of 5 stars would be appreciated.

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