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Old 12-17-2008, 09:54 AM
JRself
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Default Problems with partner in corperation.

Hello all,

I have a problem with my partner. I have no idea what to do. Here is the story. Over a year ago my partner and I started up a kitchen dealership. We agreed to split the profits 50/50 and ownership. I agreed to be president and he agreed to be treasurer. My problem is that I found out that since the beginning he has been purchasing cabinets on the companies cabinet account and paying for them with his other personal or business checking account. He was hiding the transaction from me so he could take all the profit. I have since found out that he has opened another bank account under the same business name but not as a corporation. When I asked him about this he set up a meeting giving me less than a days notice. The meeting was to determine the Officers and directors of the business. I quickly faxed a letter stating that by mass law you needed to give 7 days notice of any meetings. I also sent by mail and certified mail. He ignored my letter and told me that this was an emergency meeting he doesn't have to wait 7 days. I have no idea what recourse or what actions that I should start in motion. Thank you in advance.

Justin Self
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Old 12-17-2008, 06:27 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. 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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