Legal Question in Business Law in New Jersey
Breach of contract business partnership
Hi, I am writing because my wife and I went into business with my friend and his wife. There were the 4 of us and 1 silent investor as the partners. My wife and I shared 40%, the investor had 10%, and they had 50%. They claim I paid 3 personal car payments totalling 450 out of the business account. I did but he knew about it and it was considered part of my pay. He cancelled my bank card and somehow got me removed from the bank account, he also turned our phones off and reported them stolen. He moved the location of the business. All this without any notification or anything. He will not discuss any of this. He just wanted to be the boss and not have to consult with anyone or share any profits. On paper I am still liable to the investor as well. He has brought on other partners I believe as well. The list is endless. We had a standard operating agreement. Oh I forgot to mention that in the first week we opened he paid a 1300 car payment of his without consulting anyone but I let it go. What sparked all this I believe was I disputed the fact that he was doing too many things on the side consuming his time and trying to seperate things from the business and make them his personally. What should I do?
4 Answers from Attorneys
Re: Breach of contract business partnership
I see from your zip code that you are at the other end of New Jersey from me, and I can not help you.
I know a very good, very smart lawyer not too far from you. Gary Marek, Esq. out of Mount Laurel.
You need a good lawyer. You need to figure out whether you can go after this unpleasant guy, and how to go about it.
What you are describing is pretty repugnant.
Let my secretary know you found me through LawGuru.
Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.
Re: Breach of contract business partnership
You have a major issue with your partner and need to seek the advice of an attorney quickly. There appear to be significant breaches of obligation to the the business as a whole and self interest dealing. You need to consult with an attorney quickly.
Keep in mind that this advice is given based on the little bit of information that you have provided in your question. My advice may change based on other information. Further, no one can rely on advice from an attorney who has not been retained. You cannot rely on this advice because we have not personally met and you have not retained me as an attorney. If you have not already done so, you should immediately meet with an attorney for a full consultation before you take any further steps. You may feel free to call me to discuss this matter in more detail. If you do so, mention Law Guru and your first one hour of time will be free. Good luck! Rob Gleaner
Re: Breach of contract business partnership
You say there is a standard operating agreement, but do refer to it in your facts. What does it provide for resolution of business disputes between the parners? If the agreement is silent on these matters, retain a good local business attorney and sue for an accounting and to assert your parnership interest. Be mindful that this type of litigation can be both costly and time consuming - so you have a business decision to make, whether the cost is justified by the potential result if you are successful. This is a response to an Internet question and the reply is not intended to be legal advice or create an attroney-client relationship.
Re: Breach of contract business partnership
You say there is a standard operating agreement, but do refer to it in your facts. What does it provide for resolution of business disputes between the parners? If the agreement is silent on these matters, retain a good local business attorney and sue for an accounting and to assert your parnership interest. Be mindful that this type of litigation can be both costly and time consuming - so you have a business decision to make, whether the cost is justified by the potential result if you are successful. This is a response to an Internet question and the reply is not intended to be legal advice or create an attroney-client relationship.
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