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partnership agreement

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  • partnership agreement

    I recently signed a partnership agreement ( I own 38% of the stock, there are 3 partners which own 38%, 38% & 24% in the company). The main purpose of the agreement was to have one partner (the one who owns 24%) sell 75% of his stock to someone else who would invest, become a partner and be on the board. It was discovered that an error was on the original signed contract. The date was wrong, it was 2005 instead of 2007.
    We all were asked to sign the revised agreement with the correct date.
    I'm have reservations with the current status of the company with the other 38% partner with management decisions and want to strengthen my position by not signing the contract until we discuss the current issues and resolve them. Since I signed an agreement before on good faith and choose not to sign the revised agreement until changes are made, is the agreement void?

  • #2
    Re: partnership agreement

    Most courts would still hold the agreement valid and just correct the date error. So you may want to assume it is indeed valid and decide from that point what you want to do.

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