Legal Question in Business Law in Washington
50/50 Partner in business changes locks, redirects money from sales, and then notifies me he wants to buy me out but does not have cash and wants to make payments. What is my recourse against him as the police would not let me remove 50% of merchandise and equipment as my former partner disagreed with what I wanted to take as it would impede on his ability to keep operating.
2 Answers from Attorneys
Not enough info for comprehensive answer, but most always immediate meeting between attorney will facilitate settlement. The longer the dispute goes on, the chance of fair settlement keeps getting less likely.
Basically, you could be in a very frustrating position if you do not act quickly. It's impossible to give you an answer that isn't riddled with generalities since so much depends upon the particulars. There is a process to unwind a partnership, but the most important part is really an agreement on money. Unless it is a very lucrative business a prolonged fight is unlikely to be financially worth it.
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