Corporate Law problem with my business partner

[hlm3277]

I moved to Texas a few years ago and bought half of a water filtration business. my partner has not paid me any profits for the last 2 years. He has repeatedly told me that they have not been selling anything and he not shown me any paperwork until recently . he told me that he had a buyer for my half of the business and this buyer wants to purchase my half very soon . my question is this, if I sell my half of the business back to this person , will I be giving up my rights to sue my former partner for the profits that he did not share with me for the last 2 years ? also what kind of evidence do I need to prove my case against my former partner ? recently I went to my former partner and told him I have a buyer for my portion of the business (not true) and I need some sales figures to accurately estimate the worth of the company. He provided me with bank deposit receipts from the last 13 months that prove he has made deposits in the name of the company . Total amount of deposits equal 140,000 dollars of sales (not profits)for 13 months. Texas law is a little different , where do I stand and how should I proceed?

 

[Betty3]

Someone else may come along with some additional information for you but your best bet might be to talk to a Texas attorney.