Loans between friends

Alan answered the question perfectly. I cannot stress how important a 'choice of law' provision will be. Some additional help can be found at:...

The short answer: If you have an operating agreement that will dictate the way that partners exit. The long answer: If you do not have an...

The previous three attorneys answered well in terms of what the law says. It is debatable if you are bound or not. They seem to all agree, I think...

Selected as the best answer

Based on what you said, Mr. Foote has given you the correct answer, which is that you are boned. I usually try to take the stance that people...

Do I need a lawyer to write a business contract?

It is a little hard to tell from your question. Are you looking for contracts to sell your business or are you looking to make sure your business...

Assistance with LLC membership issue

I usually try to answer questions in a way different than other attorneys. Namely that you may not need an attorney. However, in this case you...

Own part of an LLC or get part of profit without being Member nor Manager but just listed in the Operating Agreement. Possible?

Good analysis and advice from all other parties. They have said exactly what I would, and do, say to people starting companies and wanting...

What should I do if I am offered to start a business with another person while this person maintains 51% of it at all times?

I'll work on giving you some thoughts/resources. Hopefully with what I say and the other great advice above you can make a good decision, which...

Can I file an LLC or is that considered "competing"?

If you look at my other answers you will see that I normally tell people they don't need to hire a lawyer. For the way you worded the question I...

What are the penalties for a breach of employment contract in the state of Colorado?

Jason puts together a good synopsis of the law. Most importantly is the statute of limitations will bar your from using the legal system to...