QUESTION

Can I sue for sabotage of partner is not moving forward with agreed business plans?

Asked on Feb 11th, 2020 on Business Law - New Jersey
More details to this question:
I spent the last 3 1/2 years investing in a business and property that needed renovations to find that my business partner does not want to go into business with me anymore. I’ve spent time, money and resources on both projects the renovation of the property and investing into the business located in the commercial space of the property. What grounds do I have to sue? Can I sue for sabotage if my partner no longer wants to follow through with the verbal agreements for our businesses
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1 ANSWER

Mergers, Acquisitions and Divestitures Attorney serving New York, NY
Partner at Russo Law LLC
2 Awards
The answer depends upon the business arangement you had with your "partner".  Was a formal business entity established to govern your partnership or to own the property?  If so the foundational documents of that entity (LLC - operating agreement, Partnership Agreement, Inc. - By laws) will likely direct what rights you have.  To the extent there is no business entity and there were only verbal agreements, you may have a claim for promissory estoppel, breach of contract or unjust enrichment.  Just depends upon the circumstances.  In any event, sending a demand letter from an attorney laying out his/her malfeasance and explaining your rights might get the partner to start acting more reasonably. Feel free to contact me if you would like to discuss more. Best, Russo Law LLC www.russolaw-llc.com   *Russo Law LLC is not acting as your attorney and will not do so until you've executed an engagement letter.
Answered on Feb 12th, 2020 at 6:34 AM

Lou Russo RUSSO LAW LLC info@russolaw-llc.com 929-292-1101 www.russolaw-llc.com

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