Richard R. asked

⚖️  Law

My partner backed out of our agreement after 10 days, claiming the 10k he put in is now a loan. The agreement was based on my experience and his financial and credit background. He was supposed to open a merchant account and handle accounting and taxes, but he never followed through. The company went out of business due to his failure to fulfill his part of the deal. Do I owe him anything since he now claims the 10k is a loan?

November 23rd, 2023

Thomas Y. answered

If your partner signed a partner agreement, it is considered a binding contract, and you do not have...

November 23rd, 2023

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