Partnership Problems

  1. RGraf profile image91
    RGrafposted 5 years ago

    When it comes to small businesses, does a partnership agreement have to signed to be legal? I went into business with two friends. Something didn't feel right so I hesitated in signing the contract. The business had already started with me and one of them. The third one that came in and contributed less than $100 dollars for startup and worked for a week or two. Then she quit talking to us and refused to correspond with us. She stopped doing any work. I suggested that I return the money she put in and have her step away from the partnership. After several attempts of contacting her about this, she finally responded to an email and said, "Whatever." Can we safely feel like this partnership is non existent? She is the only one to have signed anything and her money has been returned with the notice that we were buying her out of the partnership. We just don't want to get caught down the road when the business actually makes money where she is demanding $ for her share.

  2. Stacie L profile image88
    Stacie Lposted 5 years ago

    You really need to consult with a lawyer.