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Please help (a verbal agreement to make me partner of a business)

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  • Please help (a verbal agreement to make me partner of a business)

    I'm In Lake county California. A verbal agreement was made to make me partner of a business in three months time and give me twenty percent of one business and five percent of another the percentages were to start immediately. I also worked for what he called sweat equity to the tune of about 8000 dollars well I never received any of my percentage and he laid me off after putting off signing the partnership paperwork but still kept my. Sweat equity as well as running up a believe it or not 20,000 dollar pg&e bill in my name for his property that I do not reside at nor have anything to do with, I had put it in my name in the first place as a favor partly but also I felt I would be risking my job when he asked if I didn't say yes. Please help me? How long do I have to do something about this and do I have a case? Email me at [email protected] please I need help I don't know what to do.

  • #2
    Re: Please help (a verbal agreement to make me partner of a business)

    I wish to inform you that under California Corporations Code Section 15611, partnership agreement includes a valid oral or a written agreement. Hence, your partnership agreement is a valid agreement. In partnership, the contribution by partners is determined by mutual agreement between partners. In partnership, expenses will be offset from partnership income and if income is less then contribution by partners as agreed to. Now in your case the payment of the $20,000 pg&e bill depends upon the basis and in this bill the main matter is as to for what purpose this bill is made. If the bill is due to personal use by other party then they will be liable to pay because this is a drawings from business and in case you have agreed to pay to company then you can say that the other party should compensate you for this amount as this amount was for personal use by other party. After issue of Notice to other party, you can file a suit.

    AFF

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