Deadbeat partner refuses to sell shares, no contract

I have a partner who owns half my business. For the past year his performance has slipped and hes also currently in college. He works 20 hours a week and pays himself for 40, when hes at work he does homework and plays games, rarely helping. Ive asked him to sell out but he refuses. We have no real contract that requires him to sell his share, but I really want him to sell out so I can cut the dead weight. Is there anything I can do to force him to sell?

Asked on June 29, 2009 under Business Law, North Carolina


J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I am a lawyer in CT and practice in this area of the law.  I suggest seeking a dissolution of the company as a result of your inability to work together.  After the company is dissolved, you can start up a new company on your own.  The way you can do this is by seeing a lawyer and asking him to file an action in court asking the court to dissolve the company if your partner refuses.  The court will hopefully order the dissolution and winding up of the company/division of assets and then you can move on with your life.

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.