Re: Business partner stealing money from the business
Your question hinges upon whether or not you have a satisfactory partnership agreement.
Since I do not have the agreement to review, little else can be said.
If you do not have a satisfactory partnership agreement, you may also find a remedy in the credit card agreement itself.
This depends on how the credit card was issued, to whom it is titled and the extent of liability borne by those titled (e.g., joint and several).
Where those two fail, you may have recourse through a small claim; however, you will need to properly prepare and present your case if you are to prevail.
Lastly, consider canceling the credit card, limiting the other partner's role in the business or wrapping up the partnership altogether and/or getting a satisfactory partnership agreement in place if you do not have one. If your partner balks at entering an equitable partnership agreement then this may be a sign that you really don't have a partnership anyway.
If you require assistance at a reasonable fee, feel free to contact me at (410) 799-9002.
G. Joseph Holthaus
