I have a business that is 5 months old. It is a cc. There are 2 members. Each member has 50% share of what i don't know because we recently decided to trade seperately, each paying half the rent but all other accounts are in our own names. It is a hair salon. The assets and equipment add up to a quater of the intial investment, the assets are still being paid off and are in my personal name. one member wants to sell out for his intial investment which exceeds the assets and equipment. there is no agreement between us. he has offered his share to me which i cant afford can i offer him a price for just the assets? Can he sell his share to someone else? Do i have to agree to be with the person he has sold to? what are my rights?
It is too much for my little brain. Ifeel out of my league. Clueless