Monday, August 23, 2010

I need legal advice. The man who bought a half interest in my store died and left his half to his daughter?

who is a real idiot. She has caused me to lose so much business that I am am going to lose the business. It's so bad I can't even afford a lawyer. Is there any way I can get help?I need legal advice. The man who bought a half interest in my store died and left his half to his daughter?
Too bad that when you set up the partnership you didn't buy life insurance on each other, so that you could use the proceeds to buy her out. If you can't manage to buy her out, or talk sense to her, you two might have to declare bankruptcy.I need legal advice. The man who bought a half interest in my store died and left his half to his daughter?
That is why in many partnerships it is 49% and 51%. Offer to buy her out. If you can not afford it try to work out some payment arrangement. Try to give her 50% of the profits without participating (silent partner).





You need to work out some arrangement that is suitable to both parties. Otherwise you will lose the business and both will have nothing. If you can not, then you need to find the best way for you to get as much as possible out of the business before it fails. Maybe she will buy your 50%.
Have you bothered to talk to her about the problem? How have her actions caused you to lose business? She has the legal right as the new half owner to have input....unless your former partner did not have legal right to input as far as how to run the business is concerned. First step...talk (not argue) with her and explain the situation. Beyond that, you will need an attorney....affordable or not.

No comments:

Post a Comment