Business partnership with my friend and for some reasons I want to quit

steven1234 · Jun 28th, 2012, 02:26 AM

I am in a business partnership with my friend and for some reasons I want to quit. Will there be any legal issues? Should I consult an attorney?

fleming · Jun 28th, 2012, 02:31 AM

Excluding from a business partnership depends on the agreement terms with your partner. If it is a legal agreement, you need an attorney. I had been in search of ways to exclude from a business for some financial reasons. Working with Siskinds Law firm in Toronto, I was able to do it. In my case, it was not a legal partnership and so, it was easy for me to resolve. Since you started legally, you definitely need the help of an attorney. With my experience, I suggest Siskinds Law firm because the attorneys there, are all well experienced. Wish you good luck!

AFFA · Jun 28th, 2012, 03:22 AM

I wish to inform you that the partnership can be dissolved. The Partnership Act of the province has jurisdiction in the matter. Under the provisions of the Partnership Act any partner can give notice and dissolve the partnership. Both the assets and liabilities will be distributed among the partners as stated in the Partnership Agreement or in the ownership ratio of the partners.

AFF

Lexus · Jun 28th, 2012, 04:53 AM

Hire a lawyer. Each partner should have his own lawyer. There is much legality to consider when closing a business partnership, and having a lawyer is essential.

rihadrown48 · Jul 25th, 2012, 10:49 AM

Yes, I also make partnership with my two friends. But here no problem yet, because some law is very essential for a partnership business. Make the honesty , legality , follow the command of Cain. When you do business here not friend. All are partner. So every man have to follow the rules of business and any body broke the rules should be punished.

johnhelen69 · Sep 20th, 2012, 05:09 AM

If you have had a legal agreement with your friend, then better seek the assistance of a business lawyer. Normally, you would have signed in a legality with your friend when it is a partnership. Find a good lawyer first and then proceed.

cindycampbell7 · Sep 21st, 2012, 01:31 AM

Business agreements would be legal. You should consult an attorney. Here are a list of lawyers in Canada that may help.

http://www.classaction.ca/people.aspx

calgaryimmigrat · Oct 16th, 2012, 05:24 AM

Partnership can be categorized in two areas. Legal and verbal agreement. If it is just a simply verbal agreement it is easy to quit but if it is legal you should consult a <a href="http://calgaryimmigration.com">lawyer</a> to help you.

Apr 22nd, 2013, 11:20 AM

In any type of unresolved partnerships you are always better off to hire a business lawyer to defend your legal rights and share of the partnership.

Jun 28th, 2012, 02:26 AM	#1
steven1234 Banned User Country: Join Date: Jun 2012 Posts: 1	Business partnership with my friend and for some reasons I want to quit I am in a business partnership with my friend and for some reasons I want to quit. Will there be any legal issues? Should I consult an attorney?

Jun 28th, 2012, 02:31 AM	#2
fleming Banned User Country: Join Date: Jun 2012 Posts: 1	re: Business partnership with my friend and for some reasons I want to quit Excluding from a business partnership depends on the agreement terms with your partner. If it is a legal agreement, you need an attorney. I had been in search of ways to exclude from a business for some financial reasons. Working with Siskinds Law firm in Toronto, I was able to do it. In my case, it was not a legal partnership and so, it was easy for me to resolve. Since you started legally, you definitely need the help of an attorney. With my experience, I suggest Siskinds Law firm because the attorneys there, are all well experienced. Wish you good luck!
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Jun 28th, 2012, 03:22 AM	#3
AFFA Top Level Member Join Date: Dec 2009 Posts: 12,579	re: Business partnership with my friend and for some reasons I want to quit I wish to inform you that the partnership can be dissolved. The Partnership Act of the province has jurisdiction in the matter. Under the provisions of the Partnership Act any partner can give notice and dissolve the partnership. Both the assets and liabilities will be distributed among the partners as stated in the Partnership Agreement or in the ownership ratio of the partners. AFF
	Did you find this post helpful? Yes \| No

Jun 28th, 2012, 04:53 AM	#4
Lexus Top Level Member Join Date: Sep 2010 Posts: 3,432	Re: Business partnership with my friend and for some reasons I want to quit Hire a lawyer. Each partner should have his own lawyer. There is much legality to consider when closing a business partnership, and having a lawyer is essential.
	Did you find this post helpful? Yes \| No

Jul 25th, 2012, 10:49 AM	#5
rihadrown48 Junior Member Country: Join Date: Jul 2012 Location: New York Posts: 1	Re: Business partnership with my friend and for some reasons I want to quit Yes, I also make partnership with my two friends. But here no problem yet, because some law is very essential for a partnership business. Make the honesty , legality , follow the command of Cain. When you do business here not friend. All are partner. So every man have to follow the rules of business and any body broke the rules should be punished.
	Did you find this post helpful? Yes \| No

Sep 20th, 2012, 05:09 AM	#6
johnhelen69 Junior Member Country: Join Date: Sep 2012 Posts: 1	Re: Business partnership with my friend and for some reasons I want to quit If you have had a legal agreement with your friend, then better seek the assistance of a business lawyer. Normally, you would have signed in a legality with your friend when it is a partnership. Find a good lawyer first and then proceed.
	Did you find this post helpful? Yes \| No

Sep 21st, 2012, 01:31 AM	#7
cindycampbell7 Junior Member Country: Join Date: Sep 2012 Posts: 1	Re: Business partnership with my friend and for some reasons I want to quit Business agreements would be legal. You should consult an attorney. Here are a list of lawyers in Canada that may help. http://www.classaction.ca/people.aspx
	Did you find this post helpful? Yes \| No

Oct 16th, 2012, 05:24 AM	#8
calgaryimmigrat Banned User Country: Join Date: Mar 2012 Location: Suite 2600. 144-4th Avenue SW Calgary Alberta Ca / Canada Posts: 44	Re: Business partnership with my friend and for some reasons I want to quit Partnership can be categorized in two areas. Legal and verbal agreement. If it is just a simply verbal agreement it is easy to quit but if it is legal you should consult a <a href="http://calgaryimmigration.com">lawyer</a> to help you.
	Did you find this post helpful? Yes \| No

Apr 22nd, 2013, 11:20 AM	#9
Unregistered Guest Posts: n/a	Re: Business partnership with my friend and for some reasons I want to quit In any type of unresolved partnerships you are always better off to hire a business lawyer to defend your legal rights and share of the partnership.
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