Hi All,
Bear with me ... please
I started a business partnership with a lady who provided the initial capital... entered a partnership agreement which states initial capital to be repaid by way of invoice to company on a monthly basis from incone of ** ( company name)
After 7 months business was running at a loss so she decided she wanted out.
I signed an agreement to say she was no longer liable for any debts or costs made by the business and that i agreed to repay the capital investment amount by way of profits when financially viable to do so.
Partnership is now dissolved and business still running at a loss but sge has now decided to sue me personally.
My question
Can she sue me personally for an investment in to a business that didnt make money fast enough for her so she decides she wants to get out.
Bear with me ... please
I started a business partnership with a lady who provided the initial capital... entered a partnership agreement which states initial capital to be repaid by way of invoice to company on a monthly basis from incone of ** ( company name)
After 7 months business was running at a loss so she decided she wanted out.
I signed an agreement to say she was no longer liable for any debts or costs made by the business and that i agreed to repay the capital investment amount by way of profits when financially viable to do so.
Partnership is now dissolved and business still running at a loss but sge has now decided to sue me personally.
My question
Can she sue me personally for an investment in to a business that didnt make money fast enough for her so she decides she wants to get out.
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