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This answer was rated:

My question has to my lease with my partner? Im in edmonton…

My question has to...

My question has to my lease with my partner ?

Lawyer's Assistant: Because laws vary from place to place, can you tell me what state the property is in?

Im in edmonton Alberta

Lawyer's Assistant: Have you talked to a lawyer yet?

No

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

Should I wait to explain the whole circumstance to the lawyer ?

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Answered in 7 minutes by:
12/6/2017
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 105,539
Experience: Lawyer
Verified

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Please provide me with the basic facts and then your specific question.

Thanks

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Customer reply replied 7 months ago
Hi Debra,
I am in Edmonton , Alberta. And I have a partner in a small business and our lease is up at the end of March. Apprantly, our landlord is not renewing our lease. My concern is , Can my partner go behind my back and renew the lease without me ?
With that business ? Would she have to open another or similar business ( change the name ) ? In order to take over the whole lease ? And if does try to renew the same business after this lease is up , is there anything I can do?

Is this a corporation?

If not is there a partnership agreement?

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Do you mean yes this is a corporation?

If so is there a shareholder agreement?

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Customer reply replied 7 months ago
it's a corporation . Numbered company

Is there a shareholder agreement?

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Customer reply replied 7 months ago
No, we don't have a shareholders agreement but we are both 50%owners of the business with same class of shares and we are both directors of the business

While it would have been better to have a shareholder agreement it is still quite clear that she has no right to take any steps that will harm the corporation or you.

If she does you can sue her.

She owes you and the corporation a fiduciary duty.

She cannot operate under the corporation's name that is owned by them as this would harm the corporation of course.

The same would hold true if she took over the lease and competed with you.

Does that help as a starting point?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 7 months ago
Hi Debra
So if we resolve the corporation she then could take over the premises with a new lease ? And she would have to change the name ? Or she could use the same name ?
Customer reply replied 7 months ago
as long the corporation holds our name she cannot use the same name in a new corporation ? Right?

She cannot harm the corporation.

So as long as there is a corporation she cannot use the name without your consent.

But if you made up the name yourself you own it and she can never use it without your consent.

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Is there anything more I can help you with at this point in time?

Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 105,539
Experience: Lawyer
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