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Thread: The Freaking Lounge

  1. #7171
    All-Pro Moke's Avatar
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    Quote Originally Posted by gmen0820 View Post
    Looking into it to do what?

    To see what he can do with the other partner. I doubt he can do anything at this point, who the hell knows.

    I think he put down a certain amount in the contract, so can't he get some of his money back or something?

  2. #7172
    All-Pro Drez's Avatar
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    Quote Originally Posted by Moke View Post
    To see what he can do with the other partner. I doubt he can do anything at this point, who the hell knows.

    I think he put down a certain amount in the contract, so can't he get some of his money back or something?
    Without knowing the details, who knows.

  3. #7173
    All-Pro Moke's Avatar
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    Quote Originally Posted by Drez View Post
    Without knowing the details, who knows.

    Yep, I don't know the details either. my dad has got to figure it out, hopefully.

  4. #7174
    All-Pro gmen0820's Avatar
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    Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

    Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.

  5. #7175
    All-Pro Drez's Avatar
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    Quote Originally Posted by Moke View Post
    Yep, I don't know the details either. my dad has got to figure it out, hopefully.
    He needs to see a lawyer. Yes, I know, another expense, but one that is necessary.

    Please tell me he consulted one (and not the business partner's) before entering into the contract.

  6. #7176
    All-Pro Moke's Avatar
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    Yeah, no idea man.

    Going to do insanity in a bit to get my mind off ****

  7. #7177
    All-Pro Drez's Avatar
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    Quote Originally Posted by gmen0820 View Post
    Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

    Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.
    Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.

  8. #7178
    All-Pro Drez's Avatar
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    Quote Originally Posted by gmen0820 View Post
    Without knowing the details, I'm gonna assume that whatever your father invested was subject to the same risk that all investments are subjected to.

    Unless you suspect that your father's partners intentionally ****ed your dad over, or that his request for the tax advance was not justifiable under the agreed-upon terms, then I think the bottom line is that your father got a raw deal.
    Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.

  9. #7179
    All-Pro gmen0820's Avatar
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    Quote Originally Posted by Drez View Post
    Well, it'd be strange for there not to be a stipulation covering salary, even if it just a percentage of revenue or profit.
    Percentage of profit is typically what you'd expect as a minority shareholder, and is what you buy into the place for. Salary, though, is normally agreed upon; typically on a per-hour, wage-like basis, so not really salary, per se.

    The problem is when the business isn't doing well. Then you get hit with a triple-whammy: no percentage to claim, no funds to draw wages from, and the reality of a return-less investment.

    This situation is normally when the major shareholders buys out, or screws the minor shareholder. If it's legal screwing, though, then it's a really raw deal.

  10. #7180
    All-Pro Moke's Avatar
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    It was a raw deal pretty much, so my dad is an idiot for going through with whatever he thought he was going to do.

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