Legal Question in Business Law in North Carolina
You are a partner( 45 %} in a LLC and you have invested 75,000.00 and the business sells for 300,000.00 after debts are paid off for 50,000.00 how much should you expect to receive if the other partner initial investment was the same but contributed more during the 6 years it was in operation?
Asked on 11/22/10, 1:51 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a franchise attorney I can say more information is needed to answer your question. How much more was contributed by the other partner over the 6-year period? What does the LLC's operating agreement say about these additional contributions? Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Attorney
Franchise Foundations APC
Answered on 11/27/10, 3:12 pm
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