Legal Question in Business Law in Pennsylvania

in a 49/51 percent partnership where the 51% is the manager/partner and i am 49%/partner..... 1. can the 51% manager/partner move the company to another state which would terminate the other partners' involvement without him making some sort of buy out offer or compromise settlement for my shares? 2. different scenario: can the 51% manager/partner close the company/partnership and open up a new company in a new state using all the records, files from the old company, in effort to avoid buying my shares.


Asked on 7/20/10, 7:22 pm

1 Answer from Attorneys
Solomon Weinstein Solomon Weinstein, Esquire

What does your partnership agreement say about these situations? if you do not have one it would have to be interpreted under any stautory law that governs the situation or through legal action to establish the respective partners rights under the given facts. i would suggest you review the situation with an attorney as the facts are not sufficient to respond to here.

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Answered on 7/21/10, 7:39 am


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