Business partner concealing information
This is a discussion on Business partner concealing information within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; Me and my friend started business in the States. I live overseas and he resides in Florida where it was ...
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#1 |
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Junior Member
Join Date: Jul 2009
Posts: 2
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Me and my friend started business in the States. I live overseas and he resides in Florida where it was all started.
It was my idea as the business is related to what I do in my home country. We had a verbal agreement that we will have 50/50 of profits after expenses. I've been paying the entire company expenses for over 15 mos. I also paid the car lease, car insurance and cellular phone bills of my friend-business partner as he could not afford that at that time. As I found out later he was using the company to operate his own business totally ignoring the activity the company was formed for. Besides that he didn't provide me with the detailed information of the transactions that were made. I also suspect that he is using information of my home country business clients without my knowledge. What can I do in this situation? Can I bind him to repay me the money he was taking to cover companies expenses and his car lease, car insurance and cell phone bills? Last edited by kolinson; Jul 28th, 2009 at 10:26 AM. |
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#2 |
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You can make him sign a promissory note and/or sue for the amounts you should have beenn paid--or at least threaten to do so.
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#3 |
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Junior Member
Join Date: Jul 2009
Posts: 2
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Can I sue being outside the States can someone sue on my behalf?
Thank you. |
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