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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10652
Experience:  30 years as a practising solicitor.
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If a business partner has been found to be presenting

Resolved Question:

If a business partner has been found to be presenting misrepresented drawings on behalf on the other partner and choses to ignore lawyer letters asking to address this. where does the other person (me) stand legally.
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.
If someone ignores correspondence the only remedy after that is to raise a court action which they can't ignore, or if they do the court simply makes an order in their absence.
Customer: replied 1 year ago.
Sorry back to legal rights claim. My late mothers lawyer sent letter to mine stating that as the main asset of the business is the stock. that there was insufficient funds in business to pay legal rights claims. the legal rights fall to be paid by my mothers estate and cannot be paid in full unless the business is sold. she says that my sister has no legal obligation to pay from her own funds. however 4 years have passed and if this were the case the stock would have been sold and lorraine is drawing large amounts of cash from the business based apon this inheritance. I am also querying the accountant showing her transferr of capital, I would have thought legal rights would have to be paid out before transferring this over?
Customer: replied 1 year ago.
I perhaps should mention I am a partner in business and that there is no formal partnership agreement.
The accountant says because of this she can draw what she wants. however if as you previously said that this was not the case
should the lawyer not query this as she could go on forever drawing and not leaving in money in business.
Expert:  JGM replied 1 year ago.
She can draw what is reasonable having regard to the business. Partners have a duty to each other and to the firm to ensure the solvency of the firm. And what she can't do is take drawings in your name. If the accountant disagrees with either of those statements then he is stupid and you should fire him, frankly.
Customer: replied 1 year ago.
I have, could you please answer the question before that regarding statement from my late mums lawyer
Expert:  JGM replied 1 year ago.
The estate is due to pay legal rights, not the business. If the estate can't pay the legal rights then either the sister has to pay the estate your mothers capital account as at the date of death or th business has to be sold to realise the capital account or as much as can be realised. I have already answered this question elsewhere I think.
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10652
Experience: 30 years as a practising solicitor.
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