If your business partner is not fulfilling their responsibilities in your partnership agreement in Texas, you have several options available to you. First, you should review your partnership agreement to ensure that your partner is actually breaching the agreement. If so, you should try to resolve the issue informally by communicating with your partner and attempting to negotiate a resolution.
If informal negotiations fail, you may want to consider seeking mediation or arbitration. Mediation is a non-binding process in which a neutral third party helps the parties reach a settlement. Arbitration is a binding process in which a neutral third party makes a decision that is enforceable in court. Both processes can be less expensive and less time-consuming than going to court, but they require the consent of both parties and may not be suitable for all cases.
If mediation or arbitration is not an option or is unsuccessful, you may want to consider taking legal action. You may file a lawsuit against your business partner for breach of contract, seeking a court judgment for damages or specific performance. In Texas, partnerships are governed by the Texas Business Organizations Code, which provides specific rules and requirements for filing and resolving partnership disputes.
It is important to note that there may be limitations or exceptions to these options, depending on the specific facts of your case and the terms of your partnership agreement. Additionally, legal action can be costly and time-consuming, and it may damage your relationship with your business partner. Therefore, it is advisable to seek legal advice from a qualified attorney before taking any action.
By