QUESTION
Can an investor close down a business he does not own
Asked on Nov 27th, 2023 on Business Law - Mississippi
More details to this question:
We have an investor in our company but he is not on the business license or any other documents besides he says he owns the holding company that invested the money for our shop so the question is does he have rights to be on our bank account and I have the right to withdraw money at his own will or litigate any rules and regulations with our company . Or suspend anyone fire or make unruly demands enforced by threatening behavior and threats of closing down the business does he have these kind of rights as an investor
1 ANSWER
E-Commerce Law Attorney serving Akron, OH
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Andrew M. Jaffe, Attorney at Law
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The investor's rights are going to be defined by your contracts for his investment (even an email thread could be a contract.)
If you do not have a contract, look up the business laws in your state to see what the law says about an investor's rights. I doubt he can dip into your bank accounts or close down the business.
Answered on Nov 28th, 2023 at 11:06 AM