Legal Question in Business Law in Virginia
I own 75% of a business. My business partner owns the other 25%. I want to buy his part out. He is not very good for business and I just want him gone. I spoke with my landlord and she advised that since the lease was in my name only and not the actual business that I could change the locks and actually have him barred from the property. All of the bank accounts are in my name only as well as the stores accounts. Can I legally change the locks and him be there only when we are open?
Asked on 1/01/10, 2:11 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Probably, a very bad idea(for a lost of different legal reasons). After all, he does own 25% of the business irrespective of whether he's on the lease or not.
Answered on 1/06/10, 9:45 pm
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