QUESTION
I am a minority partner in a company and the partnership has recently become estranged. The two majority share holders have continued...
Asked on Jul 13th, 2012 on Business Law - Georgia
More details to this question:
...to operate a credit card and rental operation which is not PCI compliant. They have also continued this practice in other enterprises with other parties and interests where they conduct the same operation which is not PCI compliant. I have complained this issue holds a huge liability for us but my complaints have been largely ignored. I would like to escape from this partnership but they refuse to purchase my interest in the company. What recourse do I have?
1 ANSWER
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It is not clear what the form of business organization is. Is it a partnership or a "company"? As a general matter, a minority owner of a business (partnership or otherwise) has no right to insist on being bought out of the business, unless the parties' written agreement so provides.
Answered on Jul 13th, 2012 at 6:50 PM