Business
My husband entered into a business partnership with a friend and for the past 8 months his friend abandoned the business, is there any way we can have him removed from the business?
Asked on 4/19/07, 2:11 pm
2 Answers from Attorneys
Noelle Ansley
Noelle Ansley
Re: Business
Is this business organized as a partnership? Are there only two partners? The partnership needs to be dissolved and either a new partner brought in, or dismantle the partnership and have your husband become a different corporate entity. You should have an attorney take a look at the partnership agreement to determine what needs to be done.
Answered on 4/19/07, 2:41 pm
Re: Business
You should dissolve the partnership if it was a formal partnership. If informal, have an attorney draft an appropriate document to reflect the noninvolvement, any consideration exchanged, the division of assets etc.
Answered on 4/19/07, 5:37 pm
Related Questions & Answers
-
401K Proceeds from loss of job I lost my job to Corporate Downsizing on February... Asked 4/15/07, 11:15 am in United States Illinois Business Law
-
Selling Imported DVDs Is it illegal to sell region free imported DVDs in the USA? Asked 4/14/07, 1:12 pm in United States Illinois Business Law
