QUESTION
Do I have to pay for past equipment rent to ex partner
Asked on May 13th, 2014 on Business Law - California
More details to this question:
My boyfriend and I bought land and started a sand and gravel business together. He owned heavy equipment and I did not. We had no written or verbal contract regarding his equipment. We used his equipment for our business and also bought equipment together. Now we are in a personal and business split. He wants to buy me out but wants to be reimbursed for the use of his equipment for the last 4 years. Will I be required to pay him?
1 ANSWER
2 Awards
If there was no agreement that you would have to pay rent his claim is a pretty weak one. If you actually set up a corporate entity he may have a claim for the reasonable value of the equipment, but even that would be a stretch going back the full four years without a written agreement.
Thanks,Jon
Answered on May 14th, 2014 at 8:35 PM