Legal Question in Business Law in Florida

Hi! I planned to take over a restaurant with a partner. We found a place, founded the Our name Restaurant Inc. with him as the president, myself as the VP, both 50:50 on shares.

As the previous tenant filed for bankcruptcy the readily furnished lease papers (Our name Restaurant Inc) in the name of the Our name Restaurant Inc. and tranfer of assets from the old tenant could not be signed right away. Suddently my partner told me he does not want to pursue this business any further. 2 weeks later I found out that he was negotiating with the landlord in his own name. Obviosuly due to the bankrupty he could get the assets much cheaper or even for free now. Another 4 weeks later he signed a lease for this location with his newly founded Our name Beergarden LLC with him being the Manager and probably owner.

My question: I spent a reasonable amount of money and time on the development of the project, engineering costs for previous locations etc.. What kind of legal means do I have here?


Asked on 7/04/11, 8:13 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Unless you had a written partnership agreement, i see none.

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Answered on 7/04/11, 8:28 am
Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I can say the following. You and your x-partner obviously had an oral agreement that seems to be breached by him. You can pursue him, but will need to spend (likely substantial) legal dollars to prove the terms of your agreement. Then you will need to either prove damages or try to trace your interest to his newly formed LLC. It won't be cheap by any means. Consult with a good business or franchise attorney in your area for specific advice.

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

Franchise Foundations, a Professional Corporation

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Answered on 7/05/11, 7:14 am


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