Legal Question in Business Law in Alabama

Partnershis

I have a business that my dad invested money in the terms were that he invested 30000 and at the end of the job we would split the profit I work on the job and got paid a salary every week. At the end of the first Job he didn't want the profit we used it to buy more equipment for the business Now the problem is that he wants out. I think that he has the money that he has invested coming back to him.Through the course of this he has written several thousands of dollars in checks for his personal use. Now he considers that his pay when that wasn't the agreement.he now wnats his money back plus half of all the eqipment that was purchased over time I don't feel that he is entitlrd to that. what would you say he is entitled too. he thinks that we should auction of the equipment give him his original money back and split the rest I think he is entitled to his investment back what do you think


Asked on 2/20/05, 7:42 pm

1 Answer from Attorneys
Robert Kreitlein Robert Kreitlein, Attorney at Law

Re: Partnershis

Well, it really depends on what the agreement was. Was your agreement in writing? If it was not, then there are several things that can happen and the situation could be quite complex. Without knowing more about what kind of entity you formed, how long it was to be in existence, how long the first job was supposed to take and other details, it's really impossible to say. Given how much money is at stake (in other words, the value of the equipment and the money he thinks was his pay), it might be worth it to actually spend the $50-$100 initial consultation fee to sit down with an attorney or get one on the phone and really dig out the details and get a good answer. Sorry. Some things can be answered quickly and easily but this one really requires more information than you've provided here.

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Answered on 2/20/05, 10:25 pm


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