If my partner owns 60% of our business, can he just sell it to get his money back without any regard or compensation to me?
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If my partner owns 60% of our business, can he just sell it to get his money back without any regard or compensation to me?
Asked on September 28, 2014 under Business Law, Texas
Answers:
Madan Ahluwalia / Ahluwalia Law P. C.
Answered 10 years ago | Contributor
Do you have partnership agreement? If there is one, the terms of partnership agreement about the process of selling partnership interest would control. If not, either you work it out or go to court. He will have to act in good faith.
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