Legal Question in Real Estate Law in Illinois

They do have the ability to take you to court for breach of the partnership agreement. Even if the agreement is oral (which was not the best idea) if your partners can prove the existence of the agreement they still have a claim against you. My suggestion would be to ask the court for help in dissolving the partnership.

Your partners do have a claim against you assuming that they can prove the agreement and that there is a duty for ongoing contributions. Why you would have an oral agreement, pay cash and not have any documented interest in the partnership is a rather risky way to do business. You should have consulted an attorney before such an arrangement was made.

You can ask a court to dissolve the partnership. Possibly you can sell your partnership interest to a third party or the other investors. Good luck.

I accidentally pushed the wrong button and sent this answer before revision.

Your partners do have a claim against you assuming that they can prove the agreement and that there is a duty for ongoing contributions. Proceeding with an oral agreement, paying cash and not having any documented interest in the partnership is a rather risky way to do business. You should have consulted an attorney before such an arrangement was made.

You can ask a court to dissolve the partnership. Possibly you can sell your partnership interest to a third party or the other investors. Good luck.

Section 701 of the Illinois Partnership Act may give you some leg up if you simply say you want out. It says "IF" you are dissociated (ie bow out) your share is to be purchased by the remaining partners less sums that are formulated in the subsections. What you lost out on by not having a written partnership agreement are typical provisions as to what happens when a partner defaults in making a required capital contribution or loan to the partnership -- to have his share diminished if the other partners cover you or the others given preference on having to cover the defaulting partner's monetary defaults through excess loans. You might want to talk to your "partners" about this because as suggested by the other answers above, they can sue but you may have a counterclaim for a portion of the value you did contribute. If things aren't totally sour your group (and it might be a wise suggestion you make to them) can still put a written agreement together and cover the situation -- it could come up again and a lawsuit each time it happens really doesn't do anyone any good. Plus, as suggested, they would have to prove up the partnership and ALL of the relevant terms, and that could mean a costly lawsuit experience - and without a written provision that would grant the winning partners the attorney fees if any they may have had to pay, they may just be stuck with those fees themselves. If they're trying to intimidate you into bowing out, at least you know there is a statutory provision that may protect a portion of what you put into the deal up to this point. GOOD LUCK.