E
enuro12
Guest
What is the name of your state? MO
What is the name of your state? MO Sorry in advance this is long
In March Curtis purchased a computer bussiness for the cost of $12000. At the same time i quit my job as an administrator of a company due to some problems with a VP that wasnt seeing eye to eye with me. I did some jobs to keep me going and in April i started helping him at his shop. He is very inexperienced and needed alot of help. Basicly didnt know what he got himself into. In June we discussed a %35 ownership. And in July he offerd me a wage of $400 per week & %25 ownership. We agreed to this and things went on. In August we hired a web devlopment guy and started talking about a 33/33/34 partnership after 1 year. That fell threw after finding out this guy was a total looser.
We got the written contract in late August but found it to be of the 2nd talk of 33/33/34. Curt is notiorus for procrastnating stuff and forgot to tell his attorney to make the changes. When we looked over the contract i noticed these details and spoke to him about it. We were going to rewrite the contract to read as so:
1. %25 ownership starting on the first day of July
2. I am allowed to spend $500 per week for the bussiness where i see fit. (such as good deals on websites or otherwise i feel is a good purchase for our bussiness)
3. If i want to sell out my shares he has first right to purchase.
4. If he wants to sell out his shares i have first right to purchase.
This was entirly verbal due to him not telling his attorney to rewrite the contract. Their are many witness to the accual "ownership/partnership" agreement we were at. Also thier are several customers distributers that understood this.
Also in August when we discussed this i was added to the bank account so i could sign checks. Paychecks, the '$500' agreement and parts from distributers.
We also discussed several times when time would permit we would go to Jeff City and get me on the State Papers as owner.
Since i started working he increasingly worked less. It came to a point where he would be in the shop for up to an hour per day then be gone. This was the case for the past 3 (August[except 1 week when we had a back to school special],September,October)months. I have handled all the bussiness operations per retail and ordering parts to keep us going. All bills were collected and he would be called to pay them. He always saying he had taken care of them.
Our phones were shut off 2x
Our electric was nearly shut of 3x
Our water was shutoff for 4 days and we had to use the restroom next door.
In all of these instances i would get his "ok" then call the approiate places to get services restored. In the case of electric. I was lucky enough to have a check book 2x and he was thier the last to pay it. So basicly i ran the place.
Fianly i had to ask him to come by the shop after we close because we needed to talk. I told him what he had been doing and that when he was in here all bugged out (obvious substance abuser) he was makeing our customers unconfterable. He relized i was right and said he would try to cleanup and start showing up at the shop more.
Three days later he starts saying stuff is missing out of our shop. Then by the 5th day his paranoia goes to a new level. He starts yelling at this employee that he was about to be fired and he knew he stole equipment. By day 11 he changed the locks, accused me and the other employees and one x-partner on a glass bussiness we funed that went sour.
1. What are my rights as an %25 owner?
2. He has started telling customers that ask for me by name that i've been fired for stealing.
3. Doesnt this also fall under defimation of character.
4. He still owes me for 2 weeks pay + all my equipment brought into the shop.
5. Dont i get like %25 of the profits for the last 6 months not to metion he cant just say "your not a owner anylonger" right?
Sorry its so long and thanks for your advice in advance!
What is the name of your state? MO Sorry in advance this is long
In March Curtis purchased a computer bussiness for the cost of $12000. At the same time i quit my job as an administrator of a company due to some problems with a VP that wasnt seeing eye to eye with me. I did some jobs to keep me going and in April i started helping him at his shop. He is very inexperienced and needed alot of help. Basicly didnt know what he got himself into. In June we discussed a %35 ownership. And in July he offerd me a wage of $400 per week & %25 ownership. We agreed to this and things went on. In August we hired a web devlopment guy and started talking about a 33/33/34 partnership after 1 year. That fell threw after finding out this guy was a total looser.
We got the written contract in late August but found it to be of the 2nd talk of 33/33/34. Curt is notiorus for procrastnating stuff and forgot to tell his attorney to make the changes. When we looked over the contract i noticed these details and spoke to him about it. We were going to rewrite the contract to read as so:
1. %25 ownership starting on the first day of July
2. I am allowed to spend $500 per week for the bussiness where i see fit. (such as good deals on websites or otherwise i feel is a good purchase for our bussiness)
3. If i want to sell out my shares he has first right to purchase.
4. If he wants to sell out his shares i have first right to purchase.
This was entirly verbal due to him not telling his attorney to rewrite the contract. Their are many witness to the accual "ownership/partnership" agreement we were at. Also thier are several customers distributers that understood this.
Also in August when we discussed this i was added to the bank account so i could sign checks. Paychecks, the '$500' agreement and parts from distributers.
We also discussed several times when time would permit we would go to Jeff City and get me on the State Papers as owner.
Since i started working he increasingly worked less. It came to a point where he would be in the shop for up to an hour per day then be gone. This was the case for the past 3 (August[except 1 week when we had a back to school special],September,October)months. I have handled all the bussiness operations per retail and ordering parts to keep us going. All bills were collected and he would be called to pay them. He always saying he had taken care of them.
Our phones were shut off 2x
Our electric was nearly shut of 3x
Our water was shutoff for 4 days and we had to use the restroom next door.
In all of these instances i would get his "ok" then call the approiate places to get services restored. In the case of electric. I was lucky enough to have a check book 2x and he was thier the last to pay it. So basicly i ran the place.
Fianly i had to ask him to come by the shop after we close because we needed to talk. I told him what he had been doing and that when he was in here all bugged out (obvious substance abuser) he was makeing our customers unconfterable. He relized i was right and said he would try to cleanup and start showing up at the shop more.
Three days later he starts saying stuff is missing out of our shop. Then by the 5th day his paranoia goes to a new level. He starts yelling at this employee that he was about to be fired and he knew he stole equipment. By day 11 he changed the locks, accused me and the other employees and one x-partner on a glass bussiness we funed that went sour.
1. What are my rights as an %25 owner?
2. He has started telling customers that ask for me by name that i've been fired for stealing.
3. Doesnt this also fall under defimation of character.
4. He still owes me for 2 weeks pay + all my equipment brought into the shop.
5. Dont i get like %25 of the profits for the last 6 months not to metion he cant just say "your not a owner anylonger" right?
Sorry its so long and thanks for your advice in advance!