Legal Question in Business Law in Georgia

business partner buyout

Three years ago my parnter and I split our business, and I took a $100000 buyout. Since we don't speak anymore, all was done via e-mail, where he sent me a breakdown of payments I would recieve via our payroll company. I only have 6 months left on the buyout, but he has now missed a payment. Is this e-mail contract legally bidning, and if so, how do I go after it if he doesnt pay... I live in Georgia, he lives in Tennessee


Asked on 6/16/08, 9:28 am

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: business partner buyout

It can be a written agreement it could be good evidence of a verbal agreement. However, because he has been paying, it probably won't matter either way. I would recommend a demand letter from an attorney and then filing suit if he continues to withhold payment.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 6/16/08, 10:16 am


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