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partnership

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paul69

Guest
What is the name of your state? pennsylvania
What is the name of your state? Pennsylvania
formed a general partnership 2 & 1/2 yrs ago with no written agreement. we filed both state and federal tax returns as sharing equally 1/3 each. the other 2 partners in a meeting that I did not attend
changed the sharing formula. I was informed that this procedure would start in Oct. i did not agree . I sued in Oct as a claim in equity. can these 2 partners arbitrarily change the verbal agreement? what legal status do i have?
 


HomeGuru

Senior Member
paul69 said:
What is the name of your state? pennsylvania
What is the name of your state? Pennsylvania
formed a general partnership 2 & 1/2 yrs ago with no written agreement. we filed both state and federal tax returns as sharing equally 1/3 each. the other 2 partners in a meeting that I did not attend
changed the sharing formula. I was informed that this procedure would start in Oct. i did not agree . I sued in Oct as a claim in equity. can these 2 partners arbitrarily change the verbal agreement? what legal status do i have?


**A: better but still not good.
 

JETX

Senior Member
Needless to say, you have a HUGE problem here in that you have NOTHING in writing to stipulate the 'rules' of the partnership or even that it exists. And that will make it nearly impossible for you to PROVE to a court what any agreements were.

With that:
"can these 2 partners arbitrarily change the verbal agreement?"
*** Very likely. Simply, if they are a 'majority' of the partnership, they can change anything that they want. And especially since the lack of any documents creates a situation without rules.

"what legal status do i have?"
*** You have whatever 'legal status' the majority 'partners' want you to have. Without any rules to the contrary, the majority 'partners' can do anything they want. Including buying you out for $1.00.

You are going to get a great education on why states, including PA, have laws to deal with partnerships. In PA, they are in Title 15, part III, chapter 81 thru 89.
 
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hexeliebe

Guest
Jet really should take that act on the road.

We'll bill him as the Great Gandolfini....reads minds and interprets gobblygook for a small fee :D
 

JETX

Senior Member
I have three class rings. And since I am now a Lord, can I sue Peter Jackson for mega-millions for making a movie of my life??? Lord of the Rings.
 
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hexeliebe

Guest
I don't know about Peter but Michael has an open date and he might be able to fit you in :D
 

JETX

Senior Member
Sounds like HIStory to me.

And plaigarized from another website:
Michael Jackson Song Titles That Will Conveniently Double as His Prison Bitch Name
-- "Billie Jean" [Thriller]
-- "Dirty Diana" [Bad]
-- "Girlfriend" [Off the Wall]
-- "The Girl is Mine" [Thriller]
-- "PYT" (Pretty Young Thing) [Thriller]
-- "Liberian Girl" [Bad]
-- "Albino Man Barbie" [Dangerous B-side]
-- "Sexy Sexy Nose Hole Jackie" [Japanese Import]

Michael Jackson Song Titles That Take on a Decidedly Sinister Spin in Prison
-- "Leave Me Alone" [Bad]
-- "Don't Stop Til You Get Enough" [Off the Wall]
-- "Get on the Floor" [Off the Wall]
-- "Jam" [Dangerous]
-- "Give in to Me" [Dangerous]
-- "You Rock My World" [Invincible]
-- "I Most Certainly Did Not Drop That Bar of Soap, Sir" [Forever Michael Remasters]
--"(Even If I Didn't) Drop That Bar of Soap, Sir (You're Still Gonna Do It, Aren't You?)" [Bad Studio Sessions]
-- "(That Swatstika Tattoo) Really Brings Out Your Eyes" [Bad -- The Interview Disk]
-- "Your Love Hurts a Lot Less the Fourteenth Time" [Number Ones Bonus Track]
 

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