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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 38615
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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How can I buy out my partner without agreement . Sir ! We

Resolved Question:

How can I buy out my partner without agreement . Sir !
We get 50/ 50 together. I'm not get along with them. I try talk to them and deal with them about that. I say if you buy me out you give me money or I buy you out I give for you money, but they don't want buy me out or I buy them out. How can I do . Could you please help me. Thanks.
Submitted: 1 year ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your question. Please permit me to assist you with your concerns.

In what state are you located in. You mentioned that you have no formal agreement in place and that neither party wants to buy out the other--that makes it harder. What agreement if any do you have? Are you formally registered with the state as a business entity?
Customer: replied 1 year ago.
My bussiness in cranberry , pa. You know , we work together 4 month but we away fight together that why I want to takeover I told them. But they don't want me takeover so I say if you don't want me takeover so you can takeover and give me money, they say no , they don't anything , they don't want buy me out and they don't want I buy them out .
Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your follow-up, Anh. Great, I happen to be a Pennsylvania licensed professional.

If you both do not want to buy each other out, what do you want to accomplish? I am still not sure of your business structure--are you a partnership, LLC, LLP, or you never formally recorded your business with the state? What do you estimate your business is worth?
Customer: replied 1 year ago.
My bussiness is INC, I want takeover but he don't want me takeover, but I can't get along with them. My bussiness estimate $180.000. I told them I give you $210.000 . I takeover but they don't want that and say say I you don't want me takeover you can takeover and give me 210.000. They say no, and they told me keep like this ? I mean continue work with them ????
Expert:  Dimitry K., Esq. replied 1 year ago.
Anh,

How did you obtain this value amount, did you use an accountant or was it just your personal estimate of value?
Customer: replied 1 year ago.
How much I pay for 1 question ?.$36 online answer ( 1, 2,3 ,,??)
Expert:  Dimitry K., Esq. replied 1 year ago.
Anh,

I haven't given you an answer yet. So far there is no charge. But once I provide you with an anwer, it will be based on your one -time-charge. Please respond to my additional questions so I can better answer your concerns.

Thank you.

How did you obtain this value amount, did you use an accountant or was it just your personal estimate of value?
Customer: replied 1 year ago.
Yes, they get somebody want to buy this price, my bussiness they go up, I got a statement income every month
Expert:  Dimitry K., Esq. replied 1 year ago.

Thank you for your follow-up, Anh.

What you are describing is ultimately going to potentially take litigation. You would need to properly evaluate the cost of the business, and figure out the actual value. This may require you to retain accountants, likely business accountants who can estimate the value of the business by calculating assets, debts, accounts receivable, and value of future benefits, projects, or good will. Then you would need to retain a corporate counsel to file suit in court for a formal request to 'partition' the business between the parties OR issue a right to sell the business so as to split the value of the sale between the parties in proportion to their interest. The written agreement you have can be the basis for the suit, if the other party is refusing to split losses, and permit you to separately file for breach of contract or for breach of fiduciary duty against the other owner in this instance.

Neither of you can force the other to sell. But you can pursue this partition, and then potentially 'buy' the company if it is ordered by the coruts to be sold. That may be an option to sell, or have the company be sold in this instance.

Good luck!

Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 38615
Experience: Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
Dimitry K., Esq. and 4 other Legal Specialists are ready to help you
Customer: replied 1 year ago.
How can I do ?
Expert:  Dimitry K., Esq. replied 1 year ago.
Anh,

Thank you for your follow-up. Do what, exactly?
Customer: replied 1 year ago.
Sir ! I told them long time ago about agreement but they don't want to to that and now we get a lot of trouble I think they don't want to do agreement and I they don't do that how can I do with them. Do I need hire a lawyer for this case and how much money I can pay for lawyer and how long the lawyer done this case. Can you help me this case if you help me and how much I can pay for you and how long you done this case and can I takeover this bussiness ? .( this is the nails salon. ). Could you please help me about that . Thanks
Expert:  Dimitry K., Esq. replied 1 year ago.

Thank you for your follow-up, Anh.

Let me try to address each issue in order. You mentioned 'trouble'. What's going on?

As for the agreement, you also mentioned in the past that it was not in writing, correct?

I am personally barred from assisting you based on state law and site rules. If you wish to retain counsel, you can do so by browsing the listings at www.avvo.com and www.martindale.com. You would need an attorney because a business is legally considered to be a separate entity, and one that has to have formal legal representation that is separate and one that the owners cannot provide unless they themselves are formally permitted to practice law in that state.

Hope that helps.

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Dimitry K., Esq.
Dimitry K., Esq.
Lawyer
38615 Satisfied Customers
Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.