Is marriage considered a partnership? Have the two parties entered into a contract once they're married? What happens when one breaks up a business partnership?
What happens when a business partnership is dissolved and the parties are not married (not relatives, just business associates.?
Personal Injury Lawyer
Marriage has laws of its own although I have heard it referred to as a marriage contract. A business partnership has laws of its own as well. There are business partnerships within a marriage as well.
973-984-0800. Please be advised my answers to questions does not constitute legal advice and you should not rely on it, due to the fact that we have never met, I have not been aprised of the facts in you case nor have I reviewed any documents.
If you are asking whether NJ laws regarding dissolution of marriage are the same as NJ laws regarding dissolution of a business, the answer is NO.
You need to meet as soon as possible with a very experienced lawyer who focuses his/her practice on New Jersey Divorce, go over your situation in detail, get educated answers to your questions, and obtain expert guidance as to the best course of action. In my opinion, it will be well worth the cost of the meeting.
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I agree with what is stated above. The laws that apply to a marriage "contract" are separate from business partnerships. A marriage can break up but the business partnership continue and vice versa. Contact an attorney in your area to discuss this.
While marriage is considered an "economic partnership" for purposes of dividing assets that are acquired during the marriage, the laws for dissolution of a marriage are vastly difference from those of a business dissolution. Obviously, the interpersonal issues would be different as well. If you are not already married, and are concerned about these issues, there is a pre-nuptial agreement that could be hepful to set out both of your right and liabiities should the marriage end. If you are alredy married and seek a divorce, then you may want a consultation with counsel in your area to see what your rights and liabilities are.
Disclaimer: The information you obtain at this answer is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Review of this answer does not in any way constitute legal representation,
Not to be disagreeable, especially with my colleagues who handle matrimonial matters, while I agree that the NJ laws governing the dissolution of a business differ from the laws governing the dissolution of a marriage, in Tannen v. Tannen, the trial court (family court judge) referred to the obligations of a H &W as each owing a fiduciary duty to the other, which is the same duty partners owe to each other. While the case went to the Appellate Division of Supreme Court of NJ, and was over tuned, the reason had nothing to do with the proposition that each party owes a fiduciary duty to the other.
I concur with my colleagues that you should seek the advice of a matrimonial attorney ASAP, as well as a business attorney.
The foregoing is not intended to be legal advice upon which you may rely as I have not been retained for this purpose.