Legal Question in Business Law in Georgia

Verbal Partnership
Opened a restaurant in February with a partner, everything was verbal nothing in writing. One partner putting 15,000.00 into restaurant the other about $5000.00. The $5000.00 partner stole $2500.00 out of the company checking account to pay personal debts and support a drug habit. Both partners names are on business license and company bank account. What steps are required to get his name out of business. Also the $5000.00 partner borrowed this money without the other partners knowledge from someone and now that person is asking the $15000.00 partner for the money.
The $5000.00 partner told the $15000.00 he wanted out. Where do we go from here. Thanks for your help

Asked on 4/30/04, 8:38 pm

Charles W. Field Charles W. Field, Attorney at Law

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Re: Verbal Partnership

This is too complicated to address in this type of forum. You should consult with a local attorney because all the facts need to be examined.

Answered on 5/02/04, 2:35 pm

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