Can one owner of a 50%/50% partnership in a company force the other owner to resign by making up allegations?

What course of action should be taken when asked to cease and desist and give up ownership to other owner’s son?

Asked on September 24, 2012 under Business Law, Illinois


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country where there is a partnership dispute the corporations code of each state set forth how the dispute is to be resolved absent a written agreement to the contrary. Given the cease and desist request that you are writing about I suggest that you consult with a business attorney to see what can be done to resolve the situation by way of a buy out or a partnership dissolution.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.