Ask a Law Question, Get an Answer ASAP!
Hi thanks for your question. My name is***** should be able to assist with this.
They can obviously seek to agree anything they like to try and get out the the position they're in. However, forcing one to do something they dont want to do might be more difficult and whether they can do this will depend on the terms of the agreements they had beetween them when they entered into the venture together to start with.
If they agreed nothing, then it comes down to normal principles of company law etc.
In essence, one cannot realistically force the other out or to buy their interests.
At least, not without a suggest of unfairly prejudicial conduct against the minority holder.
It sounds like they both want out: they can only get that, with the other reamining, if they can agree (or have already agreed) to this happening.
can the minority holder claim ignorance to the terms of the agreement leaving majority holder liable?