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This is my situation. In September of this year my friend and

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I decided to open a...
This is my situation. In September of this year my friend and I decided to open a used children's clothing store, and we would split the profits 50/50. My husband and I ended up putting $20,000 in to this business. She ( the other owner) contributed nothing financially. A few days after we opened the other owner approached me and informed me that she didn't feel that the amount of time I was spending at the store was worth my 50% of the profit, and that she thinks that I should just come into the store and work for an hourly rate until my $20,000 is paid back....but wait, there's more! Since that rather awkward conversation, she has parked in the handi-cap spot in front of the store, causing a disabled customer to walk farther than he should have to, and refused to move her car, yelled at one of our helpers in front of customers, admitted to me that she is a regular drug user, and recently hosted a drunken college party at her house while all five of her children were home! And she recently wrote herself a check for $450.00 even though we agreed that we would not pay ourselves until the business was financially secure. My question is as follows; since the name of the business is not registered with the state of Ohio, and everything is in my name, could I change the name of the business, and void our prior verbal agreement pertaining to profit, and boot her out of here altogether? Also, we both signed the lease, the landlord can't stand her and is willing to help us, can he evict her?
Submitted: 6 years ago.Category: Business Law
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Answered in 11 minutes by:
12/5/2011
Business Lawyer: Loren, Attorney replied 6 years ago
Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 35,839
Experience: 30 years experience representing clients .
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If you had a written partnership agreement the terms of the agreement would control regarding the dissolution of your partnership. Since there is no written agreement you would need to negotiate a buyout where one partner is paid for their interest and walks away, leaving the remaining partner as the sole owner.Otherwise, you would need to sue your partner for an accounting and dissolution. The court would rule on the value of the partnership and oversee its dissolution. Your partner clearly owes her share of the initial investment.The landlord can not evict one of you unless the lease provides for it, which would be unusual. Additionally, as a partner, she would still be entitled to credit for her interest.
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Loren
Loren
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