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A partnership agreement states that the members are to make…

Customer Question
Good morning. A...

Good morning. A partnership agreement states that the members are to make a specified capital contribution. When only one partner performs and holds a 34% can the non-contributing partner's interest be diluted for failing to make contribution as required?

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

Florida

Lawyer's Assistant: Has anything been officially filed? If so, what?

Nothing filed. The partners only signed a Partnership Agreement; however, no formal documents were prepared thereafter and the Partnership Agreement is vague and does not deal with failure to contribute.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Not at the moment, thanks

Submitted: 8 months ago.Category: Business Law
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9/21/2017
Business Lawyer: legalg, Attorney replied 8 months ago
legalg
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Category: Business Law
Satisfied Customers: 13,291
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