Legal Question in Business Law in Colorado

What do I do if my business partner goes to jail. Does he loose his share of the business? He is a drunk and a violent person. He has made threats to our customers, and has put a member of my family in the hospital.


Asked on 7/25/10, 8:25 am

2 Answers from Attorneys
V. Iyer Iyer Law Office, L.L.C.

You need to really rethink and evaluate the people or person you choose or select to partner up and invest and do business.

Having said that, his rights and obligations is determined by the partnership agreement you have with him.

If no agreement you can see if you can buy his interest in the business with his consent.

All the best

Best if luck

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Answered on 7/25/10, 12:56 pm
Kevin B. Murphy Franchise Foundations, APC

The other attorney is on point here. Unless your partnership agreement addresses these issues, you need to continue the partnership - or buy him out. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/26/10, 8:22 am


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