Legal Question in Business Law in Utah
Please help on verbal agreement, possibly on tape
I was in a partnership with 2 other people, we didn't legalize our company, we haven't invested any money, all that was put into the ''company'' are just the ideas. One partner had to move out of state, so he was out of the picture, that was fine, no hard feelings or anything. So then me and the other partner talked more about the ideas and the steps we'd have to take to make this work. Monday, I (Not him) tried to get things moving, I needed to ask him a very important question, he ignored my texts, ignored my calls, then texted me 9 hours later, during those 9 hours, my parents and I had a talk, and it made me realize that partnerships (most) end badly, I was doing all of the work, all he has contributed were ideas. Whenever we'd meet, he would drink alcohol non stop, we have told him that it was not allowed at our meetings but once the other partner left, he picked it back up again. I realized that he isn't someone that is of value to this company, I would be picking up the slacks. So now I have decided that I want out, I want to do something like it (ideas that were mentioned, since the ideas were mine too, well, it's mainly me and the partner that left) Now he is threatening that I had a verbal agreement to be his partner and I
1 Answer from Attorneys
Re: Please help on verbal agreement, possibly on tape
Send the alcoholic a termination letter. Then go take care of your business. The reason many partnerships end badly is because there is not a written agreement setting forth the rights and responsibilities of the partners.
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