We have a dereliction of duty provision in our contract. Do you have a business contract?
I had to look up dereliction of duty. I wish I knew of that before. We do have something drawn up with a lawyer just stating our interest in the business, but nothing like that.
I'm mad at myself because I put too much trust in him. I work full-time so I did certain things with the business and was a financial partner, but he did most of the management aspects. I mean I always knew where we stood financially of course and important things, but I left a lot to him because I just didn't have the time and that was his job. Never in a million years did I see this coming. I wish I'd been more prepared.
you said your brother was involved too - do you by chance have any kind of partnership agreement that splits up responsibilities?
even with family that's a good idea so hopefully you guys thought of that before. if so you'll have a great leg to stand on in court
It's his brother who is involved. He is not on any of the mortgages and has earned his share via time and work. We do have an agreement that splits up responsibilities so hopefully that will help.
The attorney said that we will be so much better off if we can just come to some sort of agreement between us and he can just assist in getting it done vs. fighting the battle out in court. I'm willing to take less than my fair share just to get it done quickly with the least amount of hassle.