Legal Question in Business Law in Minnesota

It is impossible to answer either question without looking at your documents, but he can probably either force you to buy him out or can sell his shares. Either way, the ramifications can be very bad. I highly recommend you retain an attorney immediately.

Unless you have a buy/sell or written partnership agreement, you will have to follow the steps in the Minnesota Statutes re: partnership dissolution.

You should have an experienced business attorney review your situation before proceeding.

I can do complimentary phone consultation.

The other attorneys are on point here. The starting point is to consult your partnership agreement, or buy-sell agreement. These kinds of cases are highly fact dependent so you should consult an attorney in your area for specifics.

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

Franchise Attorney

The answer to your question is problematic if you did not execute proper agreements regarding how partnership intersts may be alienated. WIthout a restiction on alienation of intersts, it is liikely that the partinership interest may be sold if a buy-out is not forthcoming. The partner may also seek to dissolve the partnership.

In most cases, such disputes can be resolved through negotiation and, perhaps mediation/

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