Legal Question in Business Law in New Jersey

Partnership obligations

Case involves an informal partnership among friends, total investment near 300k, my share about $50K I gave funds to friend in CA and he forwared to NJ Investment was a straightforward and very conservative venture

We were all friends so short of the documentation of the cashiers checks made out to the corporation entrusted with dealing with the commodity exchange I have only the limited information that was sent to me.

It seems that the partner in New Jersey just made a innoncent but very poor decision in trusting the wrong person in the other country and waiting too long to initiate legal actions for misappropriation of funds.

My concerns is that after 3 years it is becoming more and more difficult to contact partners and that if there are any funds recovered from

the other country I will be the last to know.

Is there any legal recourse I can take in New Jersey or CA to recover my investment share or at least ensure that my financial interests are represented if any funds are recoverd from the other country


Asked on 3/08/00, 1:31 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Partnership obligations

I suggest you call the Securities and Exchange Commission. You may also need to contact an attorney who is experienced in SEC law. You have created an unsecured loan, for which there are a lot of problems when you try to enforce it.

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Answered on 3/21/00, 3:21 pm


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