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level42

Guest
I am a equal 3rd owner of a restaurant in Florida. My partners are my brother and sister. We were given a restaurant by our parents over 8 years ago. In the partnership agreement it states that we all have equal management rights in the business. I have been active in the business for 6 years and the other two have been active all of their adult lives. I could go on and on about how unfair im treated by them but here's the kicker. I am a non smoker and the rest of my family smokes. The only rule I have tried to inforce is where our employees should smoke. So I made it clear not to smoke behind the bar. My brother;s "main man" was smoking behind the bar and I asked him not too. This upset my other partners and they invited me to leave the business with a salary and take less of a profit at the end of the year. But doesnt this sound odd?? I have not been able to resolve this dispute by trying to talk reasonably to them so I am backing out. I have never been to a partner meeting to set any by laws and I realy dont know what they are if there are any I dont even have a copy of them. What should I do. I dont want to be bought out yet because property is soaring in this area. Please help me find out what I can do if anything.... for the time being im going to take a walk from the business.....thank you
 


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troynsam

Guest
Failure to draft a pre-partnership agreement contract has led to the demise of many a partnership. This agreement is usually used to determine the distribution of equitable compensation based on many factors. However, it can also be used to outline policies and procedures, such as employee smoking areas. Sounds like all partners need to come together and create a partnership agreement contract, one in which all parties can adhere to.
 
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loku

Guest
The three of you brothers are equal partners, so they have two votes to your one. In other words, they have the power to make the decisions in spite of your wishes. If you don’t want to be bought out now, all your rights depend on the wording of the partnership agreement. You mentioned there was an agreement, but that you have not seen it or any other papers. As a partner you do have a right to see the partnership books and records, so you have a right to see the partnership agreement. Start by giving your brothers notice that you want to see the agreement.

Here is a link to the Florida statute giving all partners the right to inspect the books and records: http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch0620/SEC8403.HTM&Title=->2001->Ch0620->Section%208403.
 

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