Recently was pressured into partnership, Can I stop a new contract?

[FdEntrepreneur]

What is the name of your state (only U.S. law)? California

I own a restaurant and recently I was pressured into splitting partnership with partners who would get controlling interest (not stock?) (e.g. threats to have my green card taken away, landlord making threats). I signed the contract but am still the sole owner as of yet. I have been unhappy after signing the contract and with the way things have been going (My 41% stock seems too low because the restaurant is my life's work as a chef and the rest of the stock was given to people who paid off debt to my landlord for me. I invested much more of my money starting the restaurant than 41%.). Could I refuse to sign the paperwork from the city that will sign over my business to my partners, and reverse every thing? The contract creates a partnership based on the payment of debt by the new partners.

Any answers will be very much appreciated

We have already created a corporation. It was completed by my partner.

 

[justalayman]

There is obviously a lot missing here. A city does not force a person to divest themselves of ownership of a business, at least without some law or court order requiring it. A lender or investor cannot enforce such an action either without a court order.

 

[latigo]

What is the name of your state (only U.S. law)? California

I own a restaurant and recently I was pressured into splitting partnership and giving up my controlling stock (e.g. threats to have my green card taken away, landlord making threats). I signed the contract but am still the sole owner as of yet. I have been unhappy after signing the contract and with the way things have been going (My 41% stock seems too low because the restaurant is my life's work as a chef and the rest of the stock was given to people who paid off debt to my landlord for me. I invested much more of my money starting the restaurant than 41%.). Could I refuse to sign the paperwork from the city that will sign over his business to his partners, and reverse every thing? The contract creates a partnership based on the payment of debt by new partners.

Any answers will be very much appreciated

THE ANSWER IS that you MUST take whatever it is that you signed to your attorney and have him advise you. So start there.

Why, because you are much confused and understandably confused as to the nature and extent of you vested business interests. For example the word "partnership" has a specific meaning and legal implications and you couldn't have held stock in a "partnership" because none would be issued.

Also this business of you having received paperwork from the city and your anticipated consequence is too puzzling and improbable to even begin to be comprehended at this distance.

You work on pleasing the customers with your culinary skills and let your lawyer exercise his professional skills in sorting out and resolving your legal issues. Which seem somewhat, if not critically dire, and clearly in need of immediate professional attention!

So please get it in you head that you are not about to resolve any of these pressing legal issues without professional assistance and spending some money. The answers are not going to pop up on your laptop!