Loading…
10
My old boss swore a handshake and a $1 buyout clause could dodge a partnership split, and 4 years later it actually held up in a Columbus courtroom
I always thought buyout clauses were just lawyer filler until our LLC dissolved and the $1 clause my boss insisted on back in 2019 meant my ex-partner walked away with basically nothing, which was brutal but legal, so has anyone here actually watched a cheap buyout clause get enforced?
1 comments
Log in to join the discussion
Log In1 Comment
tessa_adams311d ago
Watched my own $1 buyout clause do absolutely nothing except teach me that I picked the wrong business partner and the wrong lawyer. Seriously, reading your post makes me feel like the guy who brought a butter knife to a gun fight. Four years of court time sounds awful, but at least the clause actually held when it counted, which is more than most of us can say. Mine got torn apart because nobody wrote down what "buyout" even meant, so we just bled money until we hated each other. Glad yours worked out, even if it felt like a punch in the gut at the time.
10