Legal Question in Business Law in New York
My husband is in a family farm legal partnership. Ten years ago his brothers offered to buy him out but never gave him the money. He is not active in the partnership. Can he sue to get the monies due him, and even possibly sue for more for increases in value over the interim years?
1 Answer from Attorneys
More information is needed. Specifically, was there a contract? What happened with the offer? If there was only an offer and no acceptance, the husband continues to be in the partnership. Therefore, he should file for dissolution.
If there was a contract, your husband (and the brothers) would have had to comply with the terms of the contract. If the terms of the contract called for the brothers to pay your husband 10 years ago, and payment was never made, you would have a problem with the action since the time period to bring an action for breach of contract is 6 years.
Mike.
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