Posted by VADAVE on October 28, 2010 at 03:16:13 from (149.32.192.33):
In Reply to: airplane partnership posted by dave anderson on October 27, 2010 at 17:55:20:
Had a partnership on a boat once; the advice I was given AND which I would pass on--Have a written agreement and noterize it. The agreement should cover the responsibilities of each partner, i.e. you going to do what maintainance, what each will do after use, when and what each will pay for and finally what happens when a partner wants out of the agreement. We covered all that in our agreement and what I discovered was that my partner would do EXACTLY whar was in the agreement and NO MORE. So everything not spelled out I ended up doing. At the end if we hadn't spelled out how it would be handled I would have been screwed.
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