Tacylovelace
Junior Member
What is the name of your state (only U.S. law)? WI
I started a business 4 yrs ago. We did not have a Buy-Sell Agreement. In the past year I have used my credit cards to purchase new equipment totally over $30,000. My partner would like to buy me out. We verbally discussed figures. Last week she presented me with a buy out. Out of the purchase price I am to take 20,000 of the debt. I had said a purchase price and the debt separate. I have tested the job market and can not find a job that pays what I am making here. That would be a financial hardship. Do I have to sign it since it is not what we agreed to? Can I tell her I do not wish to be bought out at this time and would like to wait until the job market is better?
I started a business 4 yrs ago. We did not have a Buy-Sell Agreement. In the past year I have used my credit cards to purchase new equipment totally over $30,000. My partner would like to buy me out. We verbally discussed figures. Last week she presented me with a buy out. Out of the purchase price I am to take 20,000 of the debt. I had said a purchase price and the debt separate. I have tested the job market and can not find a job that pays what I am making here. That would be a financial hardship. Do I have to sign it since it is not what we agreed to? Can I tell her I do not wish to be bought out at this time and would like to wait until the job market is better?
