Legal Question in Business Law in Florida

Re: Business partner locked out of business

I would have to see your operating agreement to know if you partner is permitted to do this. Were you permitted to "borrow" money from the company? Did you have permission? You really should consult with an attorney because this stuff is important. You may have violated your fiduciary duty to the company, but we don't even know if you have a company.

Re: Business partner locked out of business

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

What was the agreement between the partners? Is it spelled out in an agreement? If so, the terms of the agreement would most likely be controlling. Generally, when two parties have an equal interest in a business, neither can lock the other out.

You should seek the advice of a local attorney to review any agreements or paperwork regarding the business. The attorney can then provide with advice regarding your legal rights and obligations.

Scott R. Jay, Esq.