What is my remedy if my ex-business partner has stopped making payments on our buyout agreement?
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What is my remedy if my ex-business partner has stopped making payments on our buyout agreement?
He stopped paying 3 weeks ago and I know that he has $50,00-$70,000 coming in monthly. My payment is $6500 monthly. I don’t think he thinks I can do anything but we have a legal buyout agreement that our former lawyers drew up. Can I ask the court to freeze the bank accounts until I get paid or something similar?
Asked on June 26, 2012 under Business Law, Florida
Answers:
david slater / david p.slater, esq.
Answered 12 years ago | Contributor
Not until you obtain a judgment against him. Your attorney must bring a lawsuit to enforce your buyout agreement. Good luck.
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