2007-01-09 04:34:21 · 7 answers · asked by elliepoo69 1 in Politics & Government ➔ Law & Ethics
Dissolution is not only governed by law but also the Articles of Incorporation and other corporate documents. The answer to your question depends on a variety of variables including the state of incorporation.
2007-01-09 04:42:51 · answer #1 · answered by C B 6 · 0⤊ 0⤋
Few (wise) people would set-up the corporation at 50-50. Maybe 51% - 49% but never 50-50 (called a deadly embraced).
If 50-50 and one wants to sell, but the partner disagrees - then the one wanting to sell can go to court and sue to have their half-interest sold. Partner would probably be given first try at buying half of the company. But if the judge feels selling 50% of a company will only cause more problems - may order all of the company to be sold and the money split 50/50 between the 2 partners.
2007-01-09 04:41:42 · answer #2 · answered by John Hightower 5 · 0⤊ 0⤋
Generally, it takes a majority to dissolve the corporation. Consider mediation or some other way of breaking the logjam. Offer to buy out the other person and if he won't take your offer, tell him that you would sell at that price.
2007-01-09 12:51:04 · answer #3 · answered by mattapan26 7 · 0⤊ 0⤋
As long as they are a signatory there is no physical problem doing that.
Legally though they may get into trouble with their co-owner if it is done without discussion.
Depending on the circumstances and the willingness of the parties to engage in a discussion, they may have to engage an attorney to sort this out.
2007-01-09 04:53:44 · answer #4 · answered by Don't look too close! 4 · 0⤊ 0⤋
I surely have considered what OWS is pushing. Its BS and aways would be. the belief is that for the period of a courtroom of regulation a company is considered a individual and has each and all the rights a individual has. its been that way for some years. firms are already regulated up the wazoo and the regs are actually making it harder for them to function.
2016-10-06 21:41:59 · answer #5 · answered by ? 4 · 0⤊ 0⤋
The answer would be in the bylaws or articles of incorporation that created the corporation.
2007-01-09 04:38:31 · answer #6 · answered by SDD 7 · 0⤊ 0⤋
They would more than likely have to by out of their share of the corp. Depending on how the deal was made and how good of a partnership these two people have.
2007-01-09 04:47:46 · answer #7 · answered by joannaduplessis@sbcglobal.net 3 · 0⤊ 0⤋