Tue 19th Aug 2008, 04:17
Abey, I think it is like this. You have to calculate the total earnings (profit not the gross) of the bar for 3 months. From there, split the profit into what you agreed of 60/40 share. Add this figures and you will know how much is his and your share. If you want to to buy out his share you must pay him the $45,000 plus his earnings for 3 months. I think that is how to buy the share of your partner. I hope you have this big amount of money to pay him because I think your bar is worth having for.
Last edited by prettysue; Tue 19th Aug 2008 at 04:22.