Nondisclosure And Partnership Agreement

Summary

This situation involves complex issues of nondisclosure, potential fraud, domestic violence, and business partnership agreements. Marital status nondisclosure and its effect on agreements. Possible fraud or misrepresentation in business deals. Domestic violence concerns impacting business decisions. Potential tax implications and liabilities. Would you like information on how to address the nondisclosure and fraud concerns legally, or are you seeking advice on handling the business partnership under these circumstances?

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Partner One, Jennifer Delores Bouknight-Spence, acknowledges that she did not disclose her Ppmarital status to Partner Two, Vance Howard Harris, before the commencement of their romantic relationship or the discussions about the */* Business Partnership Agreement. Partner One affirms that it was not her intention to inflict emotional distress upon Partner Two as a result of this nondisclosure of marriage. I Jennifer Delores Bouknight (Partner One), agree that I only notified Vance Howard Harris (Partner Two) of my marital status after realizing that I was not going to be able to honour the agreement I initially made with (Partner Two) to co-sign alongside on a loan contract in return for fifty per cent ownership of his business Affordable Towing and Recovery so (Partner Two) could get the funds to purchase a used tow truck. Without being able to mention any discussion made between Partner Two and myself. Understanding that I would not be able to keep such plans of starting a business from my husband Bud Bouknight until the divorce proceedings were completed having to act as if I was solely going to open the towing business after discussing my plans with my husband not being able to tell him of my plans to co-sign with partner two I had to tell him I solely was going to seek financing for the purchase of a used tow truck and the establishment of a towing and roadside assistance business. Within about a month of discussing plans with my husband, he independently secured financing without my prior knowledge or consent, including placing my name on a financing contract at the financial institution Total Finance located in Meridian, Mississippi, a company owned by Bill and Larry Johnson, who is my husband's employer. He utilized the loan to purchase a * F650 rollback tow truck from a friend of his, Trent Shoals who owns Trent's Paint and Body, shortly after my initial discussions regarding the proposed business venture. I Jennifer Delores Bouknight (Partner One), agree that I only notified Partner Two Vance Howard Harris, of my being married to Ronnie M. (Bud) Bouknight who I married on April/*/* after realizing I would not be able to honour the agreement I made with Vance Howard Harris to co-sign alongside him so he would be able to secure the funds to purchase a used tow truck. Due to me being married and also living with my husband Bud Bouknight, I felt that the right thing to do was to let him know my intentions of possibly getting involved in the towing and roadside assistance industry and understanding the fact I could not mention any details about Partner Two due to my husband's violate behaviour that grows worse after he received a terminal cancer diagnosis so I had to make my husband Bud Bouknight believe that I was solely planning to secure the funds to purchase a tow truck and open a towing and roadside assistance business instead of being in a partnership with partner two. I was told by my husband Bud Bouknight that he had acquired financing to purchase a tow truck on the day of, and without my prior knowledge, I only found out after I was told that I needed to sign the Finance agreement. After realizing that I was not going to be able to honour the agreement made before the signing of this primary business partnership agreement. This entailed me signing alongside Partner Two so he could purchase a used tow truck because Partner One Jennifer Delores Bouknight revealed that she was married to a man named, Ronnie M. (Bud) Bouknight, but goes by the name Bud Bouknight and that she had been married to him since April *, *, and she and her husband were living together until recently she moved into a guest house her parents own. I, Partner One, Jennifer Delores Bouknight, admit that my decision to withhold this vital information from Partner Two, Vance Howard Harris, was primarily motivated by my concern that disclosing such information would jeopardize our romantic relationship as well as ongoing negotiations for a potential business partnership with Partner Two. Before any discussions regarding any possible business partnerships, all business activities associated with Affordable Towing and Recovery were solely and entirely done by Partner Two, who stated this was his second attempt at establishing the business following a previous unsuccessful attempt last year due to unforeseen complications. Partner One, Jennifer Delores Bouknight, agrees that this omission occurred for three months of her self and Partner Two, Vance Howard Harris's initial ever meeting one another, a period after Partner Two, Vance Howard Harris, was contacted by a third party mutual friend about Partner One needing help with security. After Partner Two Vance Howard Harris agreed to work for Partner One Jennifer Delores Bouknight with security, that would require Partner Two Vance Howard Harris to work hours from *:* PM - *:* AM 7 days a week, including weekends, working security together. Partner One Jennifer Delores Bouknight only revealed her marital status to Partner Two Vance Howard Harris after she was placed in a precarious situation after informing her husband who she lived with at the time the romantic relationship and all business negotiations between both partners started and were agreed upon, after telling her husband of her intentions of possible opening a towing and roadside assistance business and also financing a used tow truck. Partner One Jennifer Delores Bouknight agrees that she did not discuss any details related to Partner Two Vance Howard Harris or any part of a possible business partnership between herself and Partner Two Vance Howard Harris with her husband to prevent any possible type of conflict between Partners One Jennifer Delores Bouknight husband and either partner one or partner two. Partner one Jennifer Delores Bouknight stated to partner two Vance Howard Harris that shortly after having a conversation with her husband about possibly opening a towing and roadside assistance business, he arranged to get a loan without partner one Jennifer Delores Bouknight having any knowledge of him doing so, including placing Partner One Jennifer Delores Bouknight name on the financing contract with Total Finance, a company affiliated with his employer, and he purchased a used * F650 rollback tow truck from his acquaintance, Trent Shoals of Trent’s Paint and Body. Because of concerns regarding Partner One Jennifer Delores Bouknight's husband, Ronnie Bouknight's history of domestic violence and unpredictable, aggressive behaviour resulting in possible injuries. At no fault to Partner Two Vance Howard Harris Partner One Jennifer Delores Bouknight has requested that Partner Two Vance Howard Harris allow her to only temporarily portray/act as the sole proprietor of AffordableTowingand Recovery until the divorce between her husband Ronnie M. (Bud) Bouknight is finalized as measure to protect both partner one Jennifer Delores Bouknight and partner two Vance Howard Harris from any treats of any possible altercation by Partner one Jennifer Delores Bouknight husband Ronnie Bouknight. Also, to prevent partner one, Jennifer Delores Bouknight's husband, from discovering any business arrangements or Agreements made by partner one, Jennifer Delores, or partner two, Vance Howard Harris, With this or any other business agreement drafted by either partner. Partner one. Jennifer Delores Bouknight understands and agrees to the fact as long as she portrays/acts as a sole proprietor or sole owner that this arrangement or any arrangement like it would entail her solely signing any necessary or required business documents that are required by a company representative, on any documents requiring the signature of a of Affordable Towing and Recovery owner. Partner One Jennifer Delores Bouknight also understands and agrees that all such business documents, including but not limited to vehicle and equipment titles, city, county or state business or any other required licenses, business bank accounts, any financial documents, including any tax documents that may be affected by this or any other such arrangement. Partner one, Jennifer Delores Bouknight, understands and agrees that this setup will also impose full tax liability solely upon her, including any taxes arising from the income of the jointly owned business Affordable Towing Recovery. Partner one Jennifer Delores Bouknight also understands and agrees that allowing her to temporarily portray/act as a sole proprietor/sole owner of Affordable Towing and Recovery would hinder/restrict partner two Vance Howard Harris from being able to receive state and federal tax documents needed to solely file his taxes that he would under normal circumstances making partner one Jennifer Delores Bouknight being solely responsible for all state and federal taxes including all taxes on income that Partner two Vance Howard Harris would be obligated to receive per the *-* business partnership agreement that this Hold Harmless is attached to. Partner Two Vance Howard Harris would be solely held responsible for all state and federal taxes under normal circumstances of a */* business partnership contract with fifty per cent share ownership to which Partner Two is entitled under the signing of the */* Business Partnership contract attached to this hold harmless and also would be held fully responsible for full liability instead of equally * per cent shared liability of any vehicle towed by Affordable Towing and Recovery that accidentally damaged to a customer vehicle that is towed by any tow truck operator employed by Affordable Towing and Recovery. Also, Partner One Jennifer Delores Bouknight understands and agrees that once she signs this hold harmless agreement that's attached to the *-* business partnership she agrees to one hundred per cent hold harmless partner Two Vance Howard Harris as she temporarily portrays/acts as the sole proprietor of Affordable Towing and Recovery only temporarily until her divorce is finalized With her husband Ronnie Bouknight. In light of these circumstances, Partner Two Vance Howard Harris has requested the establishment of this Hold Harmless Agreement from Partner One before agreeing to allow her Partner One Jennifer Delores Bouknight who has requested to portray/act as the sole proprietor only to a temporary time until her divorce with her husband Ronnie M. (Bud) Bouknight, ensuring protection against any potentially misleading or false information that may be provided by Partner One. Partner Two seeks to confirm that no collusion exists between Partner One and her husband regarding Partner Two or the business being established, as Partner Two had independently pursued this business venture before their meeting. Following the execution of this Hold Harmless Agreement, Partner Two consents to Partner One acting as the sole proprietor throughout the divorce proceedings, with the understanding that this Agreement shall become null and void upon the finalization of the divorce. Partner Two retains the right to terminate this Agreement at any time, even before the conclusion of Partner One’s divorce. Both parties acknowledge that this Hold Harmless Agreement shall not alter or supersede the terms of the original */* Business Partnership Agreement, which shall remain in full force and effect. Each partner will continue to receive fifty per cent of the partnership's net income from the date the Partnership Agreement was executed. **AND WHEREAS**, Partner One commits to uphold the terms of the Partnership Agreement, agreeing that upon finalizing her divorce, she will promptly include Partner Two’s name in all relevant business documents, titles, licenses, and tax filings. Partner One recognizes that the original */* Business Partnership Agreement takes precedence over this Hold Harmless Agreement, affirming Partner Two's entitlement to fifty per cent of the company's income and ownership of all business assets at all times, regardless of the names that may appear on any related documents.
This situation involves complex issues of nondisclosure, potential fraud, domestic violence, and business partnership agreements.
- Marital status nondisclosure and its effect on agreements.
- Possible fraud or misrepresentation in business deals.
- Domestic violence concerns impacting business decisions.
- Potential tax implications and liabilities.
Would you like information on how to address the nondisclosure and fraud concerns legally, or are you seeking advice on handling the business partnership under these circumstances?
Can you create me a hold harmless out of the info i posted
Sure, I can help draft a Hold Harmless Agreement based on the information provided. Here is a concise version:
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Hold Harmless Agreement
Parties Involved:
- Partner One: Jennifer Delores Bouknight
- Partner Two: Vance Howard Harris
Purpose:
This agreement temporarily allows Jennifer Delores Bouknight to act as the sole proprietor of Affordable Towing and Recovery until the finalization of her divorce from Ronnie M. (Bud) Bouknight.
Terms:
*. Nondisclosure:
- Partner One acknowledges the nondisclosure of her marital status to Partner Two before their relationship and business discussions.
*. Temporary Sole Proprietorship:
- Partner One will temporarily act as the sole proprietor of Affordable Towing and Recovery.
- She will be solely responsible for signing business-related documents and bearing tax liabilities.
*. Tax and Liability:
- Partner One accepts full tax liability for the business during this period.
- Partner Two is temporarily relieved of tax and liability obligations regarding the business.
*. Divorce Proceedings:
- This arrangement is valid only until the finalization of Partner One's divorce.
- Post-divorce, Partner One agrees to include Partner Two’s name on all business documents, titles, licenses, and tax filings.
*. Termination:
- Partner Two retains the right to terminate this agreement at any time, even before the divorce is finalized.
*. Supremacy of Original Agreement:
- The original */* Business Partnership Agreement remains in full effect.
- Both partners continue to receive fifty percent of the company’s net income as agreed.
Mutual Understanding:
By signing this Hold Harmless Agreement, both parties affirm that it does not alter or supersede the original */* Business Partnership Agreement but serves as a temporary measure to protect both parties from potential conflict and liability.
Signatures:
__________________________
Jennifer Delores Bouknight (Partner One)
__________________________
Vance Howard Harris (Partner Two)
Date:
__________________________
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This should cover the essential aspects of your situation. For the best outcome, consider consulting a lawyer to ensure all legal requirements are met.
Can you also create me a * business partnership agreement out of the posted info
Sure, I can help draft a concise */* Business Partnership Agreement based on the provided information.
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*/* Business Partnership Agreement
Parties Involved:
- Partner One: Jennifer Delores Bouknight
- Partner Two: Vance Howard Harris
Business Name:
- Affordable Towing and Recovery
Purpose:
- Establish a */* business partnership between Partner One and Partner Two.
Terms:
*. Ownership:
- Both partners hold equal (*/*) ownership of Affordable Towing and Recovery.
*. Responsibilities:
- Partners share equal responsibilities for business operations, decision-making, and financial obligations.
- Partner One temporarily acts as the sole proprietor until her divorce is finalized, signing all necessary business documents.
*. Income and Profits:
- Net income from the business is divided equally (*/*) between both partners.
*. Tax and Financial Liabilities:
- Partner One accepts full tax liability during the temporary sole proprietorship period.
- Post-divorce, tax liabilities and financial obligations will be shared equally.
*. Divorce Proceedings:
- Partner One will includePartner Two’s name on all relevant business documents, titles, licenses, and tax filings upon the finalization of her divorce.
*. Termination Clause:
- Partner Two can terminate the temporary sole proprietorship arrangement at any time, even before the divorce is finalized.
- The original */* partnership agreement remains in full effect regardless of this temporary arrangement.
*. Mutual Understanding:
- Both parties agree that this partnership agreement does not alter or supersede any prior agreements but serves to outline their business relationship and obligations.
Signatures:
__________________________
Jennifer Delores Bouknight (Partner One)
__________________________
Vance Howard Harris (Partner Two)
Date:
__________________________
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This should cover the essential aspects of your partnership. For the best outcome, consider consulting a lawyer to ensure all legal requirements are met. Is there anything else you need assistance with?