Legal Question in Business Law in New Jersey

Contract

If I buy into a company to beccome a partner at a certain percentage and I decide to terminate the agreement am I entitled to a full refund of my monies.


Asked on 8/04/08, 6:01 pm

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Contract

Maybe. Did you sign or become a party to any agreements when you made your contribution? Usually there is some type of agreement which covers what happens when someone wants out. More information is needed to offer a response.

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Answered on 8/05/08, 12:19 am
John Corbett Corbett Law Firm LLC

Re: Contract

Probably not, but a lot depends on the partnership agreement. BTW, these days almost all partnerships should be formally LLCs. Partnership is usually an unnecessary exposure to personal liability.

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

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Answered on 8/05/08, 12:21 am


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