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Andrea, Esq.
Andrea, Esq., Attorney
Category: Legal
Satisfied Customers: 12554
Experience:  25 yrs. experience in family law, estates, real estate, business law, criminal defense, immigration, and employment law.
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How can I legally get rid of my business partner? We have a

Resolved Question:

How can I legally get rid of my business partner? We have a partnership agreement with 50% captial contribution, 50% agreed-upon cash and 50% share. If he has not contributed towards the business at all, what is the fastest way I can get rid of him? Can I do it without court?
Submitted: 7 years ago.
Category: Legal
Expert:  Andrea, Esq. replied 7 years ago.

Good Evening,

 

Did you have a signed partnership agreement ?

 

 

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Thank you and Good Luck!

 

ANDREA, JD, LL.M., Taxation

Member, NY & PA Bar

 

DISCLAIMER: The facts stated herein are information only and are not intended, nor should be construed as legal advice or legal opinion and No Attorney-Client relationship is formed by asking questions and receiving information; laws vary from state to state and to protect your interests, you should seek local counsel

Customer: replied 7 years ago.
Yes. We do.
Expert:  Andrea, Esq. replied 7 years ago.

Since he has paid nothing, you cannot really buy him out, except for a nominal sum. I understand you do not want to get the Court involved, but try telling your partner that if he does not accept whatever sum you offer, you will sue him for specific performance of the partnership agreement an then he will have to contribute his share.

 

Since I do not know what your partnership agreement provides, I cannot tell you specifically which, if any, provisions you can rely on to dissolve the partnership; but I can say this, go over every paragraph of the partnership agreement and see if there is any provision that applies to a partner's failure to perform his obligations under the partnership agreement.

 

If he still will not budge, look for the provision in your partnership agreement which allows for dissolution of the partnership. If no provision for the dissolution was made in the partnership agreement, you may have to go to Court to have the partnership dissolved by the Court.

 

 

I hope this answers your questions. Pressing the "ACCEPT" button will not close the window and you may ask follow up questions; If you have questions in the future, feel free to ask for me; you may do so, by simply typing my name at the beginning of your question.

_______________________________________________________________________________

 

Please press the GREEN "ACCEPT" button so that I receive credit for my time and effort in assisting you.

 

 

 

Leaving positive Feedback, Bonus, is always appreciated

 

______________________________________________________________________________

 

Thank you and Good Luck!

 

ANDREA, JD, LL.M., Taxation

Member, NY & PA Bar

 

DISCLAIMER: The facts stated herein are information only and are not intended, nor should be construed as legal advice or legal opinion and No Attorney-Client relationship is formed by asking questions and receiving information; laws vary from state to state and to protect your interests, you should seek local counsel

 

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