Legal Question in Business Law in California

Partnership Dissolution

I was one of 6 equal partners in a partnership set up to build and manage an office/warehouse building. The property was later sold and partnerhsip kept to collect the note and distribute to parternrs. Part of the partnership we established a bank account for operating contingencies.

The note has been paid and a reconveyance filed, all bills of partnership paid. From the bank account kept by the partnership, my remaining balance is around $1233.00. Managing partner thru his attorney is requiring I sign a general release as a condition to getting my share of the bank account. I have refused to sign is and he is refusing to send the $.

Without signing the release and filing suit, how can I get my $?


Asked on 7/01/08, 5:22 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Partnership Dissolution

Do you mean without filing suit OR signing the release?

Do you have a reason for not signing the release? Are the other five partners signing the same release, or equivalent relelases? Who is being released?

I would say that if all six of you sign equivalent releases, and the effect is that everyone is released by everyone else, and there are no claims or disputes that you know about, signing the releases (and exchanging copies) is probably a pretty good idea, and unobjectionable.

I'd watch out for agreements to indemnify or hold harmless, or releases that are not mutual.

You're at least entitled to an explanation.

If you have to sue, sounds like a Small Claims suit.

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Answered on 7/01/08, 6:17 pm


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