Ending a business partnership

[thegreenbean]

I have ended a business partnership with my parents because my dad wanted controling interest to my business. I own the building the business is in + 99.9 of the inventory. I now have changed the name of the business and put it in my name only. there was no contract with my mother... I put her name on the business license with me (the business I ended)...I paid for everything. I just thought she would want something to do since she quit work but my dad is so controling, he couldn't handle me having a say in the business. He then got physically violent with me and that is when I said this business is over. We didn't buy anything together but he did help me fix up my building...do I owe anything to him financially leagally. We didn't even get a chance to get a checking account together or a tax number.

[Lewistone]

good morning
I will attempt to answer your problems but further information will be rerquired
I am assuming there was no Partnership Agreement and thus the Partnershipby is governed by the Partnership Act 1890 If you have given Notice then hhe Patnership cease immediately and the business sold and accounts drawn to the dae of cessation
I n my opinion you had no authorit to change the name of the business nor to hold yourself out as Successor
If your father has invested mony he no doudt will want it back with or without interest
If he feels you have ousted him and he feels he has lost the opportunity to obtain additional income he could sue

Lewistone




























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[TCL-MUMPING]

Judging by the use of "license" and "checking account", this may be an American legal question. You would be better posting on an American site as this is a British site.

[thegreenbean]

Hi Lewistone...I am from the U.S. and I know that if partners can't agree, anyone of them can end the business. Technically, I shouldn't have said I changed the name....I really just started a new business in my own building. When my dad grabbed me, my mother took all the cash out of the money register. My brother said that is called strong arm robbery. After they did that, I said I am out of the company and since I made no lease with the business on how long it can stay there, they are to get out immediately...please let me know if this sheds more light on what is going on. I'm meeting with my lawyer tomorrow. I'm just eager to know something now.