Corporate Law Corporations and partners

[jenster]

I just wanted to know if within a corporation if one partner owns 50% and one partner owns 25% and one other partner owns 25% can the two with 25% get together and vote the one that owns 50% out?

 

[Michael Wechsler]

Jennifer - you have to make sure that you are talking about either a corporation or a partnership. Each one has a different set of rules. With a corporation, much will be found in the corporate documents -- look in the Articles of Incorporation and the Bylaws, which will explain many of the rights. Additionally, what do you mean by "vote out" the other holder/partner? If you are talking about knocking them out of a corporation, then you might be talking about a buyout of the stock. Again, you have to look at what the rules of the corporation are.