Question about a fast food business and a partnership issue.?

Question

My friend owns a fast food store in phili. So he decides to start a partnership (25%) with one of his friends. Now the problem is that his friend is compleaty ruining the store. Does my friend have the right to fire him ? What about his 25% share ? Not only that but my friend is trying to sell his 75% and no one will buy becouse no one whants to partner with that guy (the one ruining the business) And also im preaty sure my friend can fire him becouse his actions are affecting store profits nevertheless money out of my friends pockets

Thank you c=

Answer 1

Where is phili? Is it Philippines?

Usually there's a "Deed of Partnership". It's like a marriage certificate which states everything about the partnership. And just like marriage, the business partners can have a divorce. However, with or without the "Deed of Partnership", it should be done with a lawyer and most of the times, in a court so proper division of assets, liabilities and capital would be compensated.