Cape Coral, FL asked in Contracts and Business Law for Florida

Q: Am i getting a bad deal?

My friend wants to go in on a new business. The deal is i open get the loans for 50k pay everything for the first year including his 3500 monthly salary. While he will work 5 days about 60-80hrs and manage or run the store and pull in the customers. After 12months we become 50/50 and he still collects his salary. If it flops im out 50k plus whatever else and I'll be working 2days a week it sounds like unpaid...

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1 Lawyer Answer
Andy Wayne Williamson
Andy Wayne Williamson
Answered
  • MIramar Beach, FL
  • Licensed in Florida

A: Honestly. Why are you asking for free legal advice regarding a $50,000.00 investment. Gibsee a lawyer spend a consult fee of a few hundred and thoroughly analyze this situation before you commit to anything.

Terrence H Thorgaard agrees with this answer

1 user found this answer helpful

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