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View Full Version : Membership buyout agreement not being honored



Cheech11
07-21-2014, 06:30 PM
Hello, not sure if this is the right forum for the question



I owned a business with 2 partners and I was bought out of it about 2 years ago. We signed a membership buyout agreement and agreed on a specified amount of payment. Half the amount was paid to me upfront, and then I was supposed to receive 16 checks monthly after that until the full amount has been paid. My partners are refusing to pay me the last two checks, they're saying they don't beleive they owe me the money because of a couple of issues they say that came up after I left the business.

My question is am I entitled to the last of the money because we had the membership buyout agreement? What are my courses of action from here if any? Should I file against them in small claims court (the amount left owed to me is $4,000)? Do they have any leg to stand on or would I more than likely get the money because we had the buyout agrrement?

Sorry for all the questions and I appreciate any help or advice people can offer!