Buy out partner

[hopolb33]

Jurisdiction

Maryland

I decided i want to seperate from my partner he wasnt helping the company and I was forced to do everything. He said he wants a buy out because he dont want to split and do everything on his own. We own a lawn care business only been in business for 10 months we grossed 35,000 this year. We have 72 yards we cut non are under a contract we agreed on a buy out for the equipment and he gets half the money in the business account. He also wants half the money we gross this year on them yards which I dont htink is fair at all first non are under contract so they can cancel service at anytime also I need to hire another person to do the yards there no way I could keep business running and pay him half! What options do I have and is what he is saying sound fair?

 

[army judge]

What options do I have and is what he is saying sound fair?

This is your business you're asking about, mate.

Don't trust what may be your livelihood to strangers via the internet.

Hire yourself a lawyer to advise you.

Normally a dissolution of a partnership is discussed in your partnership agreement, if you had such a document created.

If you didn't have such an agreement, you really need legal advice from a licensed lawyer in yoru state.

 

[adjusterjack]

What options do I have

Not many.

You either give him what he wants, negotiate something better, or keep him on.

It's the "have-want" doctrine.

If you want what he has more than he wants what you have, then he has the leverage.

If he wants what you have more than you want what he has, then you have the leverage.

Right now it looks like you want him out and he's content to stay and continue the current arrangement. That means he has the leverage.

is what he is saying sound fair?

Fair is where you go on rides and eat cotton candy.

Fair is in the eye of the beholder.

I'm sure it sounds fair to him.