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I have a partnership with my father in a tow company. He has

Customer Question
recently filed and gotten a...
I have a partnership with my father in a tow company. He has recently filed and gotten a new one with a new partner. I was not made aware of these changes, is this legal?
Submitted: 8 years ago.Category: Business Law
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11/3/2009
Business Lawyer: socrateaser, Attorney replied 8 years ago
socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 39,498
Experience: Retired
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Under general partnership law, a partner must refrain from competing with a partnership business prior to the dissolution of the partnership. Therefore, your father's organizing a new partnership to accomplish the same thing as the existing one would permit you to sue him for breach of loyalty.

Hope this helps.

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socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 39,498
Experience: Retired
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Customer reply replied 8 years ago
What does this entitle us to, half of the assets?
Business Lawyer: socrateaser, Attorney replied 8 years ago

or a breach of loyalty, you would be entitled to your share of the existing partnership, plus your share of your father's new partnership, in similar proportion.

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