Myself and a former colleague started an LLC. They backed out and we closed the business. Can the business reopen without the

You would probably best be served waiting until after you file for bankruptcy and by forming a new entity after that time. There are at least two...

Can I quit my job at my own company?

In California and with no employment contract, you would certainly be free to quit your job. The real question is whether you would then be free...

I filed personal bankruptcy 5 years ago. I have an llc now that is failing. can i file on the llc now?

The LLC would be considered to be a separate (non-personal) debtor, and its ability to file for protection under the Bankruptcy Code would not be...

What you need to do is hire a lawyer to help you fix this situation. An S corp does not have a "partnership agreement." You may not have a valid...

Is it a breach of contract when a partner doesnt hold up there end of the verbal agreement?

In most (and probably all) states, a partnership agreement can verbal. The reason is that the partnership relation is a consequence of law. That...

Does a 50.5% shareholder in an S-Corporation possess all of the rights of the company to make decisions?

A shareholder, even a 100% shareholder, typically has no authority (as a shareholder) to act for the corporaiton. The shareholders elect the board...