Re: Need to get out of a DBA partnership

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On 11/30/03, Mark wrote:
> Thanks to my brother (Who I was doing this for) that backed
> out-I was stuck with his friends in a DBA General
> partnership (contracting) Both had knowledge of G.C. I
> wanted to help my brother and his family who were near
> getting evicted. I am also supporting a disabled wife with
> M.S.
> I got a major renovation job lined up that needed to be
> done ASAP. This would have worked--except. . .
> I have two other partners. They mis-handled funds and
> supplies. One was a no show for an entire job. The other
> supplied himself with new tools instead of materials for a
> contract that has yet to be finished. This partner who is
> an electrician stated he could do the electric in days--
> it's been two months and he rewired the job like he was
> working on a NASA project. He is over budget by $3000.00
> When I spoke up - he made physical threats against me and
> my disabled wife (witnessed). They told the customer I took
> $8000.00. (I laid out $$ to pay workers when we had no more
> funds in the account and they walked off the job.) The
> workers are all hand picked by the other partners.
> They "Milked" the job and the payroll went off the scope.
> When I brought my worker in-he was kicked off the site. I
> found that the partner that made himself scarce supplies
> drugs to my other partner.
>
> From the agreement
> 10. VOLUNTARY TERMINATION. The partnership may be dissolved
> at any time by agreement of the partners, in which event
> the partners shall proceed with reasonable promptness to
> liquidate the business of the partnership. The partnership
> name shall be sold with the other assets ofthe business.
> The assets of the partnership business shall be used and
> distributed in the following order: (a) to payor provide
> for the payment of all partnership liabilities and
> liquidating expenses and obligations; (b) to discharge the
> balance of the all accounts of the partners equally.
>
> I sent out certified letters to them stating that I am
> withdrawing from the Partnership and a copy of a Notice of
> dissolution. I can not go to the job site to see what is
> happening-the customer now thinks that all that went wrong
> is my fault-thanks to my partners. My partners may walk
> with a truck load of new supplies and tools and I may be
> liable for thousands.
> There is other things-I am being honest here-and I know I
> screwed myself by jumping in fast.
> Any help, suggestions or advice please. I can't afford a
> costly battle. TY.
>
>
Mark,

It all depends on who is or was running the show in the
partnership business, the partership agreement, and what
state you are in. In many cases, only the general partner
(the one who is running the show) is personally liable for
partnership debts.

If you are in So. California, give me a call at (714)390-
1666. I will review the partnership agreement and analyze
your situation for free. It may not be as bad as you think.
Call me.

Tony T. Liu, Esq.
Attorney at Law
(714)390-1666

Re: Need to get out of a DBA partnership, 12/08/03, by Tony T. Liu, Esq..

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