If my wife and a partner started a bistro but now the partner wants out, what do I need to do to remove that partner’s name on the corporate charter and replace it with my own?

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If my wife and a partner started a bistro but now the partner wants out, what do I need to do to remove that partner’s name on the corporate charter and replace it with my own?

They started the business 6 weeks ago. The partner wants out because she’s unhappy with the amount of work a restaurant requires. My wife spent the bulk of the money to open the place and is the CEO.

Asked on October 27, 2012 under Business Law, Alabama

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The documents really should be reviewed by an attorney and any agreement made between them should be amended or modified, as should the corporate charter.  They can also consider dissolving the present corporation along with their partnership and have your wife start a new one.  Good luck.


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