Legal Question in Business Law in Colorado
I started a business with a friend. She put in capital, I invested my labor. I told her that a new business takes 2-3 years to succeed. After a year she wants out and full reimbursement. She was supposed to provide her labor as well but never did. Can I deduct my labor from the amount she wants back?
Asked on 3/29/13, 6:30 am
1 Answer from Attorneys
Robert Murillo
Pivotal Legal Ltd.
Is this a corporation, LLC, or partnership? Do you have a written owners' agreement (I hope so, but doubt it)? Do you have any written evidence on this promise to provide labor?
You need to provide many more facts to have an idea of your rights and options. Speak with a business attorney.
Answered on 3/29/13, 7:43 am
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