lots of problems
We are part owners in a small business. My husband owns 33% of the business and is the vice pres. His partner the president and CEO of the company runs all of the money end of the business. My husband is always out in the field doing the labor. He never finds out what kind of deals his partner is making until after the fact. My husband isn`t even on the checking account for the business. If his partner makes bad money decisions, borrows money from people and writes checks for money that isn`t even in the companies account and does this all without my husbands knowledge is my husband responsible for this even though he doesn`t know about it? We want to just leave the business, but we feel that we are stuck. His name is on the building rental for our business. If we file bancruptcy are we stuck with the money we owe for the building? The rent is late alot. Do we have any rights? We have the problem of not having enough money to pay payroll for the employees, pay the taxes, pay the owners,pay the rent. If we don`t pay our employees everyone will leave so sometimes they pay the employees to keep them and don`t pay the bills. Again my husband has no part in that part of the business. He basically is like an employee but on paper he is an owner. He never hears about what his partner is doing until after the fact.
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