Legal Question in Business Law in Texas
I am a limited partner in a family partnership for gas wells, my father is a general partner and is withholding money from the royalty checks that I did not approve of. Is this allowed if the withheld money is not for a debt of the partnership?
Asked on 2/10/11, 2:14 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can say this. An attorney needs to review the entire partnership agreement as well as all surrounding facts and circumstances. Only then can informed advice be given 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 Foundations, a Professional Corporation
Answered on 2/10/11, 3:08 pm
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