Legal Question in Business Law in Wisconsin

Forming a Corportion

If two people form a corporation together, as partners

and operate that corp. as such, in so creating debts and

assets. Can one party up and leave the other person after 6 months,responsible for paying the debts and running the business by himself with no further contact as to his where

abouts for over 2 years, (even before stock was distributed,) have the right to come back after that time period and sue the other person who has been keeping the corporation going, for his initial investment in this corporation? Can this person legally do this to the guy who

was left holding the debt and has been struggling to do so?


Asked on 2/19/03, 11:12 pm

1 Answer from Attorneys
Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Forming a Corportion

Hello, you may think that is an easy question. Usually I am able to give a general reply on here that is helpful or at least a halfway educated guess about what an outcome MIGHT be. However, your question is too complex. It depends on so many factors. It depends on the type of corporation, agreemenents the two of you may or may not have had, what his basis for suing is, why he left, etc. etc. I wish I could be more helpful. It does seem you have a good point and have the facts, and maybe some law on your side, but that is all I can without knowing a lot more detail than we can get into online. Mark J.Mahoney Good luck. 920-984-4529

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Answered on 2/20/03, 11:14 pm


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