QUESTION

CAN I BUY OUT OF A PARTNERSHIP

Asked on Mar 24th, 2012 on Business Litigation - Texas
More details to this question:
A FRIEND AND I WENT INTO A VERBAL AGREEMENT THAT I WOULD BE TAken care of if i was to help him out on a business we would be partners. He ask me to get a building lease under my name so I did. He has been late on the lease a few times plus the phone has been cut off and all of this is in my name. Well I ask him to buy me out of my half of the deal as partners and he said that i did not put nothing in the business. he wants me to give him the keys to the building but the building is in my name. can i lock him out
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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You will need to discuss this situation, which involves complex issues of partnership and creditors' rights, with an attorney. I suggest that you see an attorney as promptly as possible. This forum is not a substitute for an attorney's services.
Answered on Apr 09th, 2012 at 8:22 AM

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