small partnership questions

Robert M. Gary wrote:

"Kyle Boatright" wrote in message ...

"TTA Cherokee Driver" wrote in message
...

My opinion is that you can't write a specific enough agreement to

cover all

situations, so you'd better look for a reasonable partner and go in with a
basic agreement on the handful of important things.


Its not your partner you need to worry about, its the guy he sells his
share to in the future. I had a guy try to buy a partners share that
wanted to build retract time for the airlines (not sure who told him
that). He was going to borrow money from his father to buy it, try to
get 500 hours in 2 years and then sell it. Luckily, I talked my
partner out of selling to him ( I was also willing to buy it at his
price).

-Robert

Very true. The partnership agreement should discuss terms of sale by a
partner, and some restrictions are typically in order.


Matt