pleasehelpme321
New Member
Less than a year ago, I was approached about starting a company based on my skills. The person who wanted to start the business had a successful business of his own in a completely seperate field than mine. No contracts were ever drawn up or signed. I brought on the majority of the clients with me, and I did 100% of the work. He was simply the "owner" of the LLC established. I was paid like a subcontractor, but worked a strict 8-5 m-f schedule. I have decided to part ways, and he wants me to finish work under his company name and then purchase the business from him and provide all warranty work for him and all of the clients under my own business name.
I had verbally agreed to finish the work and that I would draft up something on a "buyout agreement" but nothing has been put in writing AT ALL. Things have become very tense, and I was threatened today that if I "screwed him over, he would kill me" (eloquently putting it...)
What I need to know is this:
1) Am I obligated to finish any work, or can I just pack up my stuff and walk out (mainly because of the threats)
2) Am I obligated to purchase the business from him and provide warranty to his clients
3) If I do walk out, does he have any legal recourse against me
Thanks in advance!!!
I had verbally agreed to finish the work and that I would draft up something on a "buyout agreement" but nothing has been put in writing AT ALL. Things have become very tense, and I was threatened today that if I "screwed him over, he would kill me" (eloquently putting it...)
What I need to know is this:
1) Am I obligated to finish any work, or can I just pack up my stuff and walk out (mainly because of the threats)
2) Am I obligated to purchase the business from him and provide warranty to his clients
3) If I do walk out, does he have any legal recourse against me
Thanks in advance!!!
