QUESTION

Ive been in business for 10 yrs in NC, a year ago i took the businesses out of my name for tax purpose reasons, and put 2 businesses under a friends

Asked on Sep 07th, 2011 on Business Litigation - North Carolina
More details to this question:
name, i made him a partner in 1 business, problem is theres nothing legally on paper stating that i am 50% ownership other than a handshake agreement, and myself working the last year recieving a paycheck from company. corporation is under his name and now hes trying to throw me out of my own business because i accused him of intermingling funds and stealing money, between two corporations and a personal acct of his that he opened without my consent or knowledge. I have all the bank statements proving this. Hes seems pretty confident that legally I dont own any thing and that I dont have a case.What are my options. He also owns a business with Lincoln Financial that sells life ins, that does very well for himself and his biggest fear is losing that business because of any illegal activity on his part
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1 ANSWER

You may want to consult directly with a local attorney to discuss the paperwork you have and to get additional information regarding your claim.  Not everything needs to be in writing - only certain types of agreements.  Oral agreements are enforceable, but are often difficult to prove.  I would suggest that you contact an attorney in your town and go from there.  Good luck.
Answered on Sep 14th, 2011 at 1:04 PM

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