Legal Question in Business Law in Texas
I have a Parnership with 4 people and 3 people own 55 percent. We signed an agreement that the partner with 37 percent is the operating partner. He won't let us sell the remaining 8% so he loses the super majority. His agreement is that having the super majority he makes all the decisions so he won't let us sell the 8%. He won't have anything to do with the company now other than prevent us from doing anything positive. Is there any way the rest of the partners can change the agreement due the negative impact he is having on the company?
Asked on 3/27/10, 3:30 am
1 Answer from Attorneys
Mark Dunn
Mark D. Dunn
Do you have a written partnership agreement? What provisions does it have for dissolving the partnership?
Answered on 4/01/10, 9:11 am
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