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I know, should have never signed the dotted lines, but there is no operating agreement or anything. I originally felt really bad for him, so I had created this company whose sole purpose was to fund the guy's retirement. It has one single client, and that's it, it doesn't expect to grow, and the company has no plans to expand, it only uses one client to pay this guy around 4,000/month in guaranteed disbursement. Outside of that, this company dies when the guy dies. According to my gf, this is actually not a legitimate business and could pose issues, since the guy is essentially getting paid as a partner with no expectations or auditing of any kind. For all i know, the guy could masturbate at his desk, since there is no timesheet system of any kind. In this case though, how could one legally dump the partner? I think at this point, based off the way the company was setup, outside of "buying" out his equity, I just dont see how it can be done. So I would need to pay him around 8 - 10,000 to dissolve the company

I know, should have never signed the dotted lines, but there is no operating agreement or anything. I originally felt really bad for him, so I had created this company whose sole purpose was to fund the guy's retirement. It has one single client, and that's it, it doesn't expect to grow, and the company has no plans to expand, it only uses one client to pay this guy around 4,000/month in guaranteed disbursement. Outside of that, this company dies when the guy dies. According to my gf, this is actually not a legitimate business and could pose issues, since the guy is essentially getting paid as a partner with no expectations or auditing of any kind. For all i know, the guy could masturbate at his desk, since there is no timesheet system of any kind. In this case though, how could one legally dump the partner? I think at this point, based off the way the company was setup, outside of "buying" out his equity, I just dont see how it can be done. So I would need to pay him around 8 - 10,000 to dissolve the company

(post is archived)

[–] • 5 pts

If you're willing to pay him thousands of dollars to dissolve the company, then if I were you, I would engage with a lawyer who will charge you much less for a consultation. A lawyer will give much better advice than anyone on Poal will, considering you will be able to provide far more details and it will be specific to your state.

[–] [deleted] • 2 pts

Are you seriously asking us how to jew your business partner out of his rightful share of $8,000-$10,000? All that self-serving shit about how you're generously providing a sinecure for an old man of no apparent utility aside, you stipulated that you "signed on the dotted line," that he's "getting paid as a partner," and reading between the (jew-like) lines, he appears to have forked over some cash in the past or else there would be no "equity" to "buy out."

Pay the man $10k, and end the relationship honestly, in which case your cost would be paid off in 2-1/2 months, don't try to cheat him, Schlomo.

[–] • 0 pt

He didn't pay any costs for the company, the company is essentially throwing money at him for no reason beyond the fact I felt bad. I now owe him restitution though for terminating the engagement

[–] [deleted] • 6 pts

That makes no sense. In the absence of sense, I declare this post to be nonsense.

How do you have a partnership with equity and a 5-figure buyout if he contributed nothing? What would possess you to craft an instrument such as that for yourself to sign? Were you wearing the tight-fitting Lassie costume and this was all some sort of elaborate BDSM scenario?

[–] • 0 pt

Some people in my family died, and I wasnt thinking straight. He gave me a sob story about how the world is against him, and at the moment I gave in after he pestered me over it for months on end. Over time, I slowly realized this was a terrible idea, and he used my vulnerabilities against me

[–] • 2 pts

I love posts like this, they make me feel so good about myself.

[–] • 1 pt

Nobody can answer this legal question without knowing way more details, like the company's legal structure, copies of any agreements or contracts, and the state where it's located and the state the articles of incorporation are filed in (if a corporation).

[–] • 1 pt

Down voted because I saw this verbatim here a long time ago. Like wtf dude?

[–] • 0 pt

You're going to need a lawyer that specializes in partnership businesses.

What you're doing may be illegal in some regard.

[–] • 0 pt

Step 1 post on a public forum about it

[–] • 0 pt

Damn, you sound like a total jew. You really shouldn't have come here with that question.

[–] • 0 pt

Tell him you've changed your name to Abraham Finklestein. Then just stop paying him.

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