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business partners

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ihophoney | 08:40 Sat 22nd Sep 2007 | Civil
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when g & n went into business N never put G on any of the accounts or paper now N wants to take everything in the business and leave.Is G intitlte to anything even if he wasn't on the paper work? N said G was just employee put N never paid taxes or gave him a W-2
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a verbal contract isn't worth the paper its written on. !!!!!
I think if you haven't got a written contract stating what share of the business each partner has, then if the name isn't on the contract, there's no hope of having a share of the business.
Depends on what you agreed, rather than how you recorded it. If it was a genuine partnership then on disolution, provided you did not agree the shares you were to take, you would both have equal shares.

However, if you were paid a wage & treated as an employee or self-employed contractor you might struggle to argue that you were a partner. I would reccomend that you gather as much info as possibel about what was agreed when the business started and, equally as important, how you n and g carried on this business on a day to day basis, then go and get some proper advice.

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