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I entered into a verbal agreement with someone to create a
I entered into a verbal agreement with someone to create a product over the past 8 months. The verbal agreement was that we would invest 50% each of the initial capital and do 50% of the workload with a 50% profit split. The company was set up in my name and he is not a shareholder. After 5 months he had done nothing and I had done all the work. We rearranged the profit split to 70/30 with the agreement that he would begin helping more. He still hasn't done anything, but the product is selling well now and I don't see how it is fair for us to continue. I've offered him a full return of his initial investment plus 20% interest on his money, but he wants his investment plus 20% profits till January 2020. What legal rights do I have? This is in New Zealand … read more
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Chris The Lawyer
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How would equity in a property be determined if it was
How would equity in a property be determined if it was purchased by a married couple and the wife's parents if parent contribution has been greater that the married couple who are now seeking a devorc… read more
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Of a Ltd company in the UK that has loaned a large amount of
Hi I am Director of a Ltd company in the UK that has loaned a large amount of money £220 to a NZ ltd company. I am a joint director and shareholder of the NZ company. My business relationship with my … read more
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I have a question about resturant issues. Restaurant. Not
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NZ Relationships Property Act Clause 13. Is there a
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I have separated from my defacto partner of 20 years he is
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Thank you in advance for your kind help and advice with my
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We have a horse in our training and care. He was imported
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My partner and I are in a de facto relationship. We have a
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What is the best way to set up a profit share arrangement in
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I live in new Zealand my wife just filed against me in the
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Incident: At 6:00 pm on June 19 June 2013, I went to the house
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My husband wants to get rid of his business partner. they have
My husband wants to get rid of his business partner. they have equal shareholding, and to-date the funds put in by each partner are now my husband $130K - his partner up $50K. The business has negativ… read more
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I am 50/50 director/shareholder of a ltd company that was set
I am 50/50 director/shareholder of a ltd company that was set up to build 3 x5 bedroom rentals for long term holding, the agreement was we would contribute 50/50 however the other party ended up contr… read more
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I am a director of a building company and i have not signed
I am a director of a building company and i have not signed a contract but had a verbal agreement with the other director of the company. we had a talk about the split up of sheers within the company … read more
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My husband had a business when we got married and he had signed
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We are a family of mother (NZ resident) adopted Son(NZ citizen)
We are a family of mother (NZ resident) adopted Son(NZ citizen) and son's civil union partner(NZ resident) and are looking to secure our future assets, and our legal status as family. We have a compon… read more
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Hi there Auckland New Zealand - I purchased 25% shares in
Hi there Auckland New Zealand - I purchased 25% shares in a Franchise business. I put them up for sale two months ago (approx) and the majority share holder (and only other shareholder) had first righ… read more
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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