Legal Question in Business Law in Florida

business law

my son and his wife have asked me to retire after 42 years in a shoe store that I started. the son offered $l1000 a mo for 1st yr, 700 2nd yr, 500 mo 3rd yr. I spoke to an acct. who told me 3 yrs salary would be more equitable but son said it would never happen. I have told son I would accept 3 mos salary and his original offer. My question is that the business has my name on it, can I legally demand that he stop using my name or pay me to use my name? Several years ago I signed over my stock to son and he said that nothing would change as far as business. Not true


Asked on 5/16/08, 4:28 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: business law

Do you mean that your son owns all the stock? If so, he can fire you and set the terms. Do you have a contract? You should have a real heart to heart with your son about what is fair.

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Answered on 5/18/08, 8:58 pm


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