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i made a partneship agreement but now my partner wants to close the business to get me out
Asked on June 25, 2009 under Business Law, Florida
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am a lawyer in CT and practice in this area of the law. I suggest that you hire a lawyer asap. You want to make sure your rights are protected. If your partner wants to get rid of you ask him to buy you out of the partnership. Is there a partnership agreement in writing? Generally, if there is no written contract the Uniform Partnership Act will govern. You wil be entitled to your share. You will have to get all the business documents together to determine what that is. I would ask your CPA to also get involved to evaluate the book to determine the value of the business and what you are entitled to.
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