Closing a Partnership Business

[msh334]

What is the name of your state (only U.S. law)? Kansas.

I own a c-store with a partnership and its operate under corporation. I am having lot of issues with my business partner and I don't trust him handeling cash. I offer him to buy his portion of the share but he is asking too much which I am not willing to pay for. Plus we tried to sell the business but we are not getting good response since business is just over an year old. So I told my business partner that I can't keep operating the business like this. We should close the business and talk to the bank to see what we can do about the loan that is left against the business (about 125k). My business partner said he will not agree to close the business. So what can I do legally at his point? I really can't keep continue the business like this. Please advise.

[HomeGuru]

Originally Posted by msh334

What is the name of your state (only U.S. law)? Kansas.

I own a c-store with a partnership and its operate under corporation. I am having lot of issues with my business partner and I don't trust him handeling cash. I offer him to buy his portion of the share but he is asking too much which I am not willing to pay for. Plus we tried to sell the business but we are not getting good response since business is just over an year old. So I told my business partner that I can't keep operating the business like this. We should close the business and talk to the bank to see what we can do about the loan that is left against the business (about 125k). My business partner said he will not agree to close the business. So what can I do legally at his point? I really can't keep continue the business like this. Please advise.

**A: you need to hire an attorney to negotiate for you.