Asked in Business Formation, Business Law and Contracts for Mississippi

Q: I recently opened a small business in Jackson, MS. I made a verbal agreement with an investor to start my company.

I opened the business 4/3/19. The business has been running well and has to begun to stable itself within the first month but my investor feels he needs to start seeing a profit return immediately. We had a huge dispute over some minor infractions. He took control of the finances and now will not issue my salary. He has also threatened to shut down the business because he sent seeing a quick return on his investment. I need legal advice now to structure a new agreement and help us come to a meeting point where all parties are taken care of.

1 Lawyer Answer

A: Justia is a free online legal forum established to allow members of the general public to ask general legal questions to experienced lawyers who volunteer their valuable time to do so. We are not here to advise people how to get out of trouble caused by their own misguided actions--especially when they are using other people's money.

Your important small business question should be directed to a business lawyer of your choosing. If you have not consulted or retained a small business lawyer you are encouraged to do so--before you make any more mistakes.

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