Legal Question in Business Law in Texas

I have been in a partnership for the last four years. The business has not shown a profit the entire time. It is a daycare and I am the acting director of the daycare and I am here every day operating the daycare. My partner seldom comes to the daycare. I have come to a point where I would like to terminate the partnership agreement. I would like to continue as the sole owner of the daycare. The daycare is in about 150,000.00 debt. The daycare started initially in my home. I acquired a partner to expand the daycare to a larger facility. Is there a way for me to end this partnership and retain the daycare. Since we are in debt what would I owe my partner if anything? Could you please give me some advice.


Asked on 10/01/09, 1:43 pm

1 Answer from Attorneys
Jeffrey Brashear The Brashear Law Firm, PLLC

Based on what you have written, there are a few options available to you. More individualized and case specific information would be required to obtain a complete understanding of your partnership agreement terms. If my law firm can assist you with this legal issue or any other legal matter, please contact us at [email protected] to arrange for an initial consultation.

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Answered on 10/06/09, 5:58 pm


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