Requesting some advice regarding partner dispute.

[To Young]

Hi,

Sorry about starting a new topic. Last year my father decided to start a new business with a partner. At that point I decided to stay out of entire dealing between my father and his partner due to the fact I am in medical school. Med school does not even allow me to have social time, let alone help my dad in his business.

However, my dad just told me that he had a dispute with his partner, and he requested my assistance. This is the story I know and believe so far. Also, the fact remains that I am not a Law person either. And I never ran my own business.


-my father does not have a personal lawyer.
-originally my farther is 1/3 and his partner (lets call him Mr. Q) is 2/3 partner.
-initially my father suggested that Mr. Q and he should not be able to withdraw more than $5000 without double signature.
-however, few months ago Mr. Q withdrew $50,000. My father talked with the bank and requested how this is possible? Bank replied that there is no such agreement with you and Mr. Q. Apparently no such bank form was submitted to make this agreement.
-few months later he also suggested that he be paid extra due to his marketing skills. And told my dad that his degree, management and accounting skills were not worth near his marketing skill.
-recently my dad withdrew $10,000 from company’s account.
-due to this withdraw, Mr. Q. threatened my dad with a fraud law suit, and told him to leave the office.
- Later Mr. Q told my dad that it is reasonable for him to settle this quietly. Mr. Q offered my dad $10,000 to hand over his share to Mr. Q.
- Originally, to start the business, my dad invested $100,000. And currently the company is worth much more.


My personal feeling is that Mr. Q knows my old man had no business and law experience, and he is trying to manipulate my dad. That is why my dad is very upset and anxious, and turned towards me for assistant (even though he does not want me to spend a min away from my studies). Unfortunately, I am no more knowledgeable than my dad.


I have already suggested my dad to hire a general lawyer to guide him with this situation and anything is the future. (I think general lawyer = Primary care physician).


I will appreciate any input and suggestions; you have for my dad in regards to how to deal with this issue from this point on?

Thank you in advance.

To young