Legal Question in Business Law in Louisiana

i bought a business partner out over 3 years ago and i now own 100 percent of the business. we just resently were awarded a BP claim in which the representing attorney is withholding half of the money . he is telling me its for my partner that i bought out 3 years ago.. is this legal and can the attorney do this.

Asked on 1/16/19, 5:33 pm

1 Answer from Attorneys

Larry Demmons The Demmons Law Firm

I suspect it depends on the nature of the purchase when you bought out your partner. The sale agreement, if there was one, should explain exactly what was sold and what was reserved. You should definitely discuss this with an attorney of your own.

Read more
Answered on 1/17/19, 6:33 am

Related Questions & Answers

More Business Law questions and answers in Louisiana