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What Measures Should I Take, Pls Advice by Noloss(f): 3:21pm On Sep 14, 2016 |
Gud evening nairalanders. Let me start by apologising for any typo.and also thank u in advance for taking out of ur time to read and probably comment on dis post. Due to economic situation in dis country now, there was a serious need for us to source for additional means of income. I got an idea of going into animal husbandry, made a survey of what will be needed to start and acquire necessary info on it but was still sourcing for fund when a friend offer to finance it but said i will be d'one to take care of (physical labour)it but we'lll share d'profit together. Given dat i own d'land to be used what do u think shd be: 1. Formula for profit sharing 2.Terms and conditions to agree on as i have not be in partnership with anybody in bus prior to dis time and wouldn't want to be cheated nor nite bite d'finger dat fed me. Pls, if u r in my shoes what measures will u take? Thanks. |
Re: What Measures Should I Take, Pls Advice by Kirinwa: 3:53pm On Sep 14, 2016 |
What experience are you bringing to the table. Have you done it before cos you guys may end up sharing loses. You may need to consult a legal pratitioner. I guess you have relatives or friends who studied law. They may even offer you this information free or at a reduced price. |
Re: What Measures Should I Take, Pls Advice by eph12(m): 4:21pm On Sep 14, 2016 |
You need to involve a lawyer so any agreement is binding. Whatever you do make sure you bring at least 51% to the table so you always have the larger share of decisions and profits. But for this to happen you need to contribute at least 51% of the fund involved including land and all. |
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