I want to exit a 50/50 partnership and do not have a partnership agreement. He refused to let me sell my shares to a third-party, and suggested to buy me out with a payment plan that is more than one year, which does not include any interest nor inflation. Now after we agreed, he comes back and refuses to buy me out. Would I be able to get back my initial investment at all? Do I have the right sell my shares to a third party without my partner's agreement? Is there anything I can do on my end and what are my rights under the partnership act.
Answer by Mike C Stewart, P.Eng
British Columbia lawyer
Posted over 3 years ago
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