How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Alice H Your Own Question
Alice H
Alice H, Solicitor/Partner
Category: Law
Satisfied Customers: 2850
Experience:  Partner in national law firm
Type Your Law Question Here...
Alice H is online now

I am in business with my sister. She wants to sell our

Resolved Question:

I am in business with my sister. She wants to sell our business. However has been dishonest with the accounts and is not in my benefit to sell. Can she force me?
There is no formal partnership agreement
Submitted: 1 year ago.
Category: Law
Expert:  Alice H replied 1 year ago.
Good morning. My name is ***** ***** I am happy to help you. I need to determine whether this is a true partnership - could you give me a little more information about the nature of the business and set up please?
Customer: replied 1 year ago.
We do bridal wear. Started 30 years ago.
We didn't do a formal partnership as it was family. Regret that now. However I am I tiled to 50 percent of profits
Expert:  Alice H replied 1 year ago.
I understand. The Partnership Act 1890 applies in the absence of a partnership deed. Partnership exists where two or more persons are involved in a business "in common with a view to profit" (s.1 PA 1890). You cannot be expelled from the partnership in the absence of a partnership agreement nor can you be forced to sell your share of the business (s.25 PA 1890). However, she can dissolve the partnership by giving notice (s.32 PA 1890). At the end of that notice period the partnership will be effectively be terminated and the business dissolved whereupon the debts/profits/assets will be distributed between the partners.If there is a dispute about dissolution / distribution an application can be made to the County Court.
Customer: replied 1 year ago.
I am having to go into a meeting just now but would like to call you is it alright in hour or so?
Expert:  Alice H replied 1 year ago.
Yes, of course. But there is an additional fee for such a service. I will send you details separately.
Expert:  Alice H replied 1 year ago.
Good afternoon. Please remember to take a moment to rate my answer so thatbinam paid for my time. I am happy to discuss matters further if needed. Alice.
Customer: replied 1 year ago.
Hi Alice, I had wanted to call you but unfortunately can't today, will I still be able to call tomorrow on special you sent?
If I rate you now, does that mean I can't carry on asking questions on this subject?I have just declined the buyer who was interested in buying the business. Don't think she will look at devolving business as it would cost too much in redundancy ect.which reason I've not taken her to court.
Expert:  Alice H replied 1 year ago.
I am happy to discuss at any time either here or by telephone. You are welcome to rate now or later - either way the question will not close and we can continue our conversation. If the business will be sold with employees you will have to bear in mind TUPE which relates to transfer of employees to the new owner. Many thanks Alice
Alice H and other Law Specialists are ready to help you
Customer: replied 1 year ago.
I checked that one out earlier, in case I get opportunity to buy. Thank you.The situation is my sister was left my mothers share in business. All the other siblings were left out, therefore made a legal rights claim. I am of understanding that if business can't afford to pay the legal rights it has to be sold to do so.
Surely I can't be forced to sell my share as business is now a 50 50. And responsibility of legal rights have nothing to do with me. So I'm just checking its her that would be forced to sell and not me. What is situation legally?