HiMyself and 2 other people have decided...

Asked by Meekaeel on 27-08-2022 17:25:20
Question posted in the General Law category relating to Eastern Cape


Myself and 2 other people have decided to open up a butchery,  we all agreed on paying R100000 each for start up capital, myself and and one other partner has already injected our capital...coming to qurbani time, the partner who has not yet paid agreed on buying sheep worth R50000 as part of his capital,  it was a verbal agreement and we agreed to it , he took the sheep on our company's name...after a while he has asked us to pay back the farmer but from our agreement we had we weren't aware to pay the farmer back...the farmer came to us and asked for the money back or he'll take us to court for stocktheft..so we paid the farmer back , but the business partner said he wants to leave the business,  and as for now we not sure if paying back the farmer was a good idea or was the business partner liable to pay , but now I don't know if was a good decision I made for paying back or was there another way around it, and as for the business partner he didn't sign any documents of agreement to the business but the business is registered with his name there and aswell on the business bank account  ...i was also worried to go to court because of the proof the farmer had that we sold the sheep and we also trying to get a grant for the business....what advice can you give me on this whole endeavor? 

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