Equiptment pre-verbal partnership

[IndNewsSrv]

I"m wondering since my husband only has a verbal partnership agreement with the person he works with,does my husband have every right to sell equiptment that was bought before the partnership came about?My husband is thinking of selling some equiptment that he bought before this other person came into the picture but he doesnt use the equiptment anymore.Can he sell it and use the profit for his personal use?Or once any type of partnership is formed..everything becomes shared equiptment.!!!REMEMBER!!! no paperwork was ever signed between them 2..just verbal agreement..and no one made any agreeements about the equiptment that came about before the other person existed in the picture.I would appreciate any help to avoid conflicts later on.Yeah I know hiring a lawyer is best but no one is out on Sunday and Mother's day.!!!

 

[ALawyer]

The issue is not really about law, but about what your husband contributed to the partnership and what full the terms of the partnershp are.

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This is intended as general information only and NOT LEGAL ADVICE. You are not my client, and I have no obligation of any kind to you. To retain a lawyer, go to http://AttorneyPages.com

 

[IndNewsSrv]

My husband contributed 100% of all equiptment before the partnership.The other guy only brough in his body..thats it.My husband brought in everything from vehicles..equiptment..money..etc.