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

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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

Answers:

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.


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