New Jersey | Business Law
Legal Question
Breach of contract business partnership
Hi, I am writing because my wife and I went into business with my friend and his wife. There were the 4 of us and 1 silent investor as the partners. My wife and I shared 40%, the investor had 10%, and they had 50%. They claim I paid 3 personal car payments totalling 450 out of the business account. I did but he knew about it and it was considered part of my pay. He cancelled my bank card and somehow got me removed from the bank account, he also turned our phones off and reported them stolen. He moved the location of the business. All this without any notification or anything. He will not discuss any of this. He just wanted to be the boss and not have to consult with anyone or share any profits. On paper I am still liable to the investor as well. He has brought on other partners I believe as well. The list is endless. We had a standard operating agreement. Oh I forgot to mention that in the first week we opened he paid a 1300 car payment of his without consulting anyone but I let it go. What sparked all this I believe was I disputed the fact that he was doing too many things on the side consuming his time and trying to seperate things from the business and make them his personally. What should I do?


