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Old 02-23-2011, 01:55 PM
brdfrdr brdfrdr is offline
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Join Date: Feb 2011
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Default can my business partner do this?

i am a partner in a cab company that has been running for 2 months.and we signed a contract stating that 60% of profits go to me and 40% goes to him after all expenses, and that we each own half of company assets including 2 cabs and the number. he works no hours of the company and i dispatch 15 hours a day. we made $2200 in total sales for december and $4000 in total sales for january. 50% of total sales are paid for driver compensation. and we have insurance, car payments, internet, office rent, phone lines and taxes all taken out of that which leaves nothing left over for split right now. he is complaining that he is not getting his cut but after all bills are paid there is nothing left and I dont even pay myself wages. Yesterday he stole one of the cabs back and wont give it back. has he breached his contract? and if he did what will happen?
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Old 02-24-2011, 04:57 PM
moderator moderator is offline
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Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html and http://resources.lawinfo.com/en/index.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.
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