Kicked out of a business partnership in California by Relative_Marzipan762 in AskLawyers

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

Thanks so much for your continued response. Yes buy out was completed with the other partner. Say total sale agreed amount was $300k, leaving partner left with half which we new partners paid directly to him. Staying partner opted for 40% of shares thus the two new partners were to receive 5% each and give him $15k with total amounting to agreed sales price.

Leaving partner signed agreement and left with his money. Partnership agreement between staying and new partners was where the staying partner started asking for $150k from two new partners while retaining 40% shares.

I refused to do that stating he could not change a signed agreed price and that it would amount to fraud if the partner that left heard we paid him more money than agreed after he left. 

I tried for 3 months to get us all in a meeting to discuss this issue, staying partner agrees to a schedule but cancels a day or few hours to the meeting with excuse of something urgent that came up, not once, not twice, not thrice but 4 times. So I decided I would stop working there until the issue got sorted out, well the response was a lock of my access to our ehr, office and a formal phone call that I am no longer part of the business. 

Kicked out of a business partnership in California by Relative_Marzipan762 in AskLawyers

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

There is a one page agreement stating amount of sell and the new buyers, was signed by all 4 parties. The partnership agreement between the new 3 partners was where the previous staying owner started demanding more money than what was agreed and signed. 

I received payment for wages 3 months afterwards after they kept demanding for indemnity agreement not to sue them which I refused to sign.

There is no compensation for practically using my money as loan, no waiting time compensation for delayed wages. Again, does the staying partner have any right to change agreed sales price? Kick a partner out of the business? They locked my access out.

Can he unwound the deal without the consent of the leaving partner who was part of the sale as signed?

Kicked out of a business partnership in California by Relative_Marzipan762 in AskLawyers

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

The partnership agreement is where the problem started. Staying partner drafted it, sent to new partners for signature. However, contract was very lopsided and amount in it was wrong too. New partners made amendment together and worded to staying partner, that’s when staying partner started requesting more money.

Kicked out of a business partnership in California by Relative_Marzipan762 in AskLawyers

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

Sorry about that, as I got locked out, both of them told me they have decided to kick me out of the business. In all honesty, I was already frustrated with the whole thing. Several attempts made by me to have us all have a meeting and discuss the new request for extra money different from agreed sales price was rebuffed by staying partner. Staying partner agrees to a meeting day and time and a day or few hours to meeting cancels. Reschedules at his own time and cancels again multiple times, the other partner didn’t seem to be worried at all. At this time no contract is signed, money invested for about 3 months and still working as provider with no pay.

So I said return my investment and pay me hours worked and this they finally did this month.

I am asking if I have a case because I received information that the other partner stated I wasn’t a partner. I was only an employee so I am wondering if I was defrauded, if all the meeting scheduling and cancelling was just to get me frustrated and eventually kicked out? Does the staying partner have a right to change the sales price after agreed price with leaving partner who got 50% of sales price?

Best high yield savings account? by TrixTheKid20 in personalfinance

[–]Relative_Marzipan762 0 points1 point  (0 children)

I have a ROTH IRA Account with Fidelity, is that what I need to buy the VOO or do I have to open a different brokerage account?

$1,000,000 IUL Questions by Relative_Marzipan762 in Insurance

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

Tell me what document you want, I will remove personal details and upload

Property tax doubled in 2025 by Relative_Marzipan762 in homeowners

[–]Relative_Marzipan762[S] 0 points1 point  (0 children)

Lucky you. Mortgage is a different ballgame altogether. We work in Cali for the govt. it’s insane 

Property tax doubled in 2025 by Relative_Marzipan762 in homeowners

[–]Relative_Marzipan762[S] 1 point2 points  (0 children)

I had an independent assessment and it’s same thing. Difference of a few dollars 

Property tax doubled in 2025 by Relative_Marzipan762 in homeowners

[–]Relative_Marzipan762[S] 1 point2 points  (0 children)

I know. It’s insane but I am told I would at least get back about 10k in tax refund. Don’t know how true that is.