Legal Question in Business Law in Georgia

In march 2001, Me and another man entered into an agreement on an existing company he owned. The agreement was that I would pay 50% of the expenses and I would get 50% of the companies earnings. August 1, we discussed the agreement again and due to him saying he couldnt afford his end of the deal we agreed i would pay 100% of the companies daily expense and remain getting 50% of the companies earning. We agreed that his 50% of the expenses that I had covered for him from march thru August would still be reibursed by him to me. The company has been struggling through the past 8 months but just received some better work where the earnings would be better and at this point my partner says he can't split the earnings with me anymore. Is there anything legally that can be done about this?


Asked on 10/21/11, 2:07 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

No one here can answer you as none of us have read your written partnership agreements.

I assume that you had a lawyer write them for you, as that is necessary and a lawyer would have covered such issues. If you did, call your lawyer who will know the answer.

If you foolishly chose not to use a lawyer and did not spend the essential few hundred dollars that would cost, plan to spend many thousands of dollars (and probably more) on a lawyer now to untangle your mess in court.

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Answered on 10/21/11, 4:04 pm


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