QUESTION

Can a business partner in a partnership push his other 3 partners out by going to the landlord and dissolving a lease and resigning without them?

Asked on Feb 07th, 2012 on Business Law - Louisiana
More details to this question:
This is a bar business. We have 4 partners. One of the partners 30% holder is much older than us, and has dealt with the land lord since the business was first purchased. We can not vote on anything or make any decisions that he does not agree with because he feels that he can go and "pull the business away" by dissolving the company and signing the lease by himself because the landlord sees him and barely knows of us. This is a bar business that we all bought into a year ago. He had bought into two years ago but the three of us bought his business partners out because one did not want to work with him and another could not get a liquor license approval. On our lease we are signed as the business and have 4 more years. Can he do this?
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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As a general matter, partners owe one another certain duties of trust. One one partner abuses partnership property for his personal benefit and enrichment, to the detriment of his partners, he may breach these duties. See an attorney to discuss your rights and how to remedy this situation.
Answered on Feb 07th, 2012 at 8:13 PM

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