Legal Question in Business Law in Florida

Llc

i am partners in an LLC with another guy. he invested 25,000 and i do all labor and management of the company. Now he is in a money crunch and turned on me and wants to sue me for the 25,000. we are 50/50 on the articles..can he sue me for the initial deposit of funds??


Asked on 7/16/07, 5:23 pm

2 Answers from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: Llc

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.

It depends on what the agreement between the parties was. I generally have all my clients enter into a written agreement setting forth the rights and obligations of each of the parties to a business venture. Hopefully you did the same. He will be able to sue you, but the question is can he prove that you owe him any monies?

Scott R. Jay, Esq.

Read more
Answered on 7/17/07, 12:54 am
Johm Smith tom's

Re: Llc

It all depends on what, if any, contracts you have with each other. Consult with an attorney because this is serious.

Read more
Answered on 7/17/07, 12:38 pm


Related Questions & Answers

More Business Law questions and answers in Florida