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Please Help. - Business - Nairaland

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Please Help. by bigiyaro(m): 11:40am On Oct 18, 2019
I don't know if this is the proper place to post this, but since its business related, I think I will find help here.
in June this year, a family friend called my brother to partner in a business, before then, the man had already started the business but, he was unable to manage it, and the business still needed a lot of money to buy more equipment to bring up the shop to standard. so the agreement was that, my brother should bring in some funds and also manage the place and the profit be shared at 70% for my bros and 30% for man. Now my bros had put in a lot of effort, time and money to turn the business around and drove it to profit. However, the man suddenly turned around that he wants to sell the shop, which will in turn make my brother's whole efforts and resources to be wasted, he even had to leave his paying job to take up this business deal in partnership with this man. We recently just discovered that the man actually wanted to improve the net worth of the business and he had wanted to sell it all along.
Now my inquiry is that, is there any legal action that my brother can take to stop the sale?
or is there anyway my brother can force the man to sell to him?
also how can my brother get compensated for his resources and sacrifice.
pls nairalanders I need inputs and suggestions.
Re: Please Help. by Nobody: 7:53am On Jul 28, 2020
If there was a written partnership agreement or an oral agreement that could be proven by the steps your brother has taken thus far, he can either sue for specific performance or take 30% of the sales proceeds.

But, what does he really want?

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