Legal Question in Business Law in Arizona

Limited Partner is going Overboard!

My father and 2 brothers started a limited partnership in 1995. At this point, my one brother is trying to control or "manage" the partnership. Ge states that he is the only one doing the work so this makes him the President of the company. He is young and doesn't even understand business. This is why my father included my brothers- he wanted to teach them. Now my one younger brother is trying to convince my other brother to assist him as he brings his friends in as partners and takes my dad off as a partner. Is this legal in AZ? My father so far is the only partner involved who has brought business in and has paid all expenses to keep business going. Isn't a limited partner only entitled to what he brings into the partnership? According to the definition of a limited partner aren't they forbidden to "manage" the partnership individually? Please hurry with your answers... My fathers business as well as our family is at stake. I will tell them your response. Thanks.


Asked on 11/20/97, 5:44 am

1 Answer from Attorneys
Gerald Hershenson Law Office of Gerald M. Hershenson

Limited Partnership in Arizona

I am not an Arizona attorney and can not adequate provide you with a legal answer. However, I suggest you contact an attorney immediately as your brother is taking action that I do not believe is proper. Move quickly to obtain legal counsel before the business is destroyed. Your brother is assuming rights that he does not have. Your agreements have to reviewed to determine your rights and this matter requires a detailed analysis which an attorney would find difficult without a complete and through review of the facts and documents.

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Answered on 11/20/97, 3:09 pm


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