Legal Question in Business Law in Virginia
Majority owner
There are three partners and the majority partner owns 52%. The other two partners own 28% and 20%. Can we force him to do distrbution and can we force him out. He is doing nothing for the company.
Asked on 9/29/08, 10:44 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Re: Majority owner
Very likely depends upon what the terms of the document creating the partnerships says about this particular issue (or what may be reasonably interpreted therefrom if not directly addressed in such terms).
Answered on 10/06/08, 11:32 am
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