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Partnership Help

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V

voni42

Guest
i live in washington state seattle area & i have a major problem.
my business partner & i had a big fall out and we decided to not be partners anymore and close down the business. well before that happen my partner decided to first take out $10,000 out of our business account and put it into her personal account. wheni found out i withdrew $3,000 which left a remaining balance of $1,200 in our business account. now i just found out that she has just taken out the remaining balance $1,200 out. i need to know what legal action i need to take to get my share of the money back. please help me!
 


L

loku

Guest
Each partner is entitled to that partner’s share of the business assets upon dissolution. The partners’ shares depend on their partnership accounts.

The following is the relevant portion of the Florida Revised Uniform Partnership Act:


RCW 25.05.330
Settlement of accounts and contributions among partners.
(1) In winding up a partnership's business, the assets of the partnership, including the contributions of the partners required by this section, must be applied to discharge its obligations to creditors, including, to the extent permitted by law, partners who are creditors. Any surplus must be applied to pay in cash the net amount distributable to partners in accordance with their right to distributions under subsection (2) of this section.
(2) Each partner is entitled to a settlement of all partnership accounts upon winding up the partnership business. In settling accounts among the partners, profits and losses that result from the liquidation of the partnership assets must be credited and charged to the partners' accounts. The partnership shall make a distribution to a partner in an amount equal to any excess of the credits over the charges in the partner's account. A partner shall contribute to the partnership an amount equal to any excess of the charges over the credits in the partner's account, except, in the case of a limited liability partnership the partner shall make such contribution only to the extent of his or her share of any unpaid partnership obligations for which the partner has personal liability under RCW 25.05.125.
(3) If a partner fails to contribute the full amount required under subsection (2) of this section, all of the other partners shall contribute, in the proportions in which those partners share partnership losses, the additional amount necessary to satisfy the partnership obligations for which they are personally liable under RCW 25.05.125. A partner or partner's legal representative may recover from the other partners any contributions the partner makes to the extent the amount contributed exceeds that partner's share of the partnership obligations for which the partner is personally liable under RCW 25.05.125.
(4) After the settlement of accounts, each partner shall contribute, in the proportion in which the partner shares partnership losses, the amount necessary to satisfy partnership obligations that were not known at the time of the settlement and for which the partner is personally liable under RCW 25.05.125.
 

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