Legal Question in Business Law in New Jersey

Business Partners

Hi ,

My father and my brother opened a school 7 years ago in NJ. Business is doing great but when they open the school my father didnt have his name on any paper work.My father did put up all the money and his experience

into the business so on paper my father doesnt own anything. My brother has forgot where the money came from but i was there when they did talk about opening a school and my father was going to be 50 percent owner. he might not have any choice but to take this to court. There is only a oral contract which was witness by me.

Does my father have a chance to win his case.To top it all my brother didnt have 2 cents when he started the school. Now he has over 500,000 in the bank.


Asked on 7/07/09, 12:26 am

2 Answers from Attorneys
Randall Brett Law Office of Randall P. Brett

Re: Business Partners

You do not say what your father wants to do. Does he want to sell the school and get his money out of it? Does he want your brother to buy him out and keep the school? Does he want to buy out your brother and run the school himself? The fact that you witnessed your father and brother agree to open the school together - with your father owning 50% of it - is very important if legal action is needed. However, these types of fights between family members rarely turn out well. Your father needs to consult with an attorney who is familiar with family-owned businesses and can advise him on the best course of action to take while still preserving family relationships.

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Answered on 7/07/09, 8:49 am
John Corbett Corbett Law Firm LLC

Re: Business Partners

Resolving this situation will be very sensitive to the specific facts. Your fathter should meet with a lawyer to discuss what evidence there is and how it fits.

My firm handles matters of this type, however the efficiencies in this matter may be influcenced by your lawyer's location. If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 7/07/09, 9:29 am


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