Partnership disputes arise and raise a whole host of legal issues come up. Was there a written partnership? What were the terms of the agreement? Are any of the partners deemed “limited”?
These issues can determine whether default laws of partnership apply. The default laws involving partnership disputes essential state that unless there is a writing, all partners are deemed to be equal owners. Furthermore, partners have the right to conduct affairs on behalf of the business without other partners consent. This can be limited if such an agreement exists to limit that ability.
If you have any questions regarding a partnership dispute, feel free to call Law Offices of Ara Jabagchourian, P.C. to set up an appointment.