Partner never wanted to sign a contract
I started a partnership last year in June 2017 and since then he never wanted to sign a contract stipulating our agreement now i left the company and started my own business. So with this said now he wants to stop me from trading in my region what can i do
Category: Business Matters, Business Reorganization
Region: South Africa, Eastern Cape
1 Answer
Thank you.
There are five requirements for formation of partnership, and one of them is that the parties must sign a contract or enter into agreement between or amongst themselves toward the formation of the Partnership. Having said this, I find your question a bit confusing because you mentioned that the partnership had already started. So, if my understand that the partnership was formally formed and in existence is correct, then what you should do is to dissolve and/or terminate the partnership first. If you so do, i have no doubt your partner will stop the hounding.