Money back from joint investment

UPDATED: Oct 1, 2022

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Money back from joint investment

I was in a equal partnership where I invest
nearly 8k. Long story short, I had to drop out 3
months in for personal reasons. The other
partner agreed and proceeded to run the
business. The day I dropped out, we agreed to
repay my investment with a 10 discretion.
Months later, the other partner still has not
refunded me and now is saying that the
business hasnt made enough money and she
put in an additional 10k to revamp the business
and now does not want to give me back
anything. Am I entitled to my money back?

Asked on November 16, 2018 under Business Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

No, you are not. When you invest in a business, the investment is not a loan to be repaid; it is essentially "buying" an interest in or piece of the business. As such, there is no right to repayment or reimbursement. When you invest, there is the chance that either the business will fail or that you will be unable to continue in it for, as you say, "personal reasons" and that is a risk you take one when investing--that you will lose your investment.

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.

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