When a friend asks you to be his partner.

[The CaptainParticipant 133]

Here’s the story:

I have friend who has a business, he had offered me to be his partner with a 10%, but here’s the trick i don’t have to invest, money, work or anything just my name, and he’s going to give me some money (Little) every month.

That means: if something goes wrong i’m going to pay debts with him, if things goes fine or normal as it should be. No problem.

I’ll earn a tiny bit, and that’s it.

There’s no need to mention, that i don’t like and more than sure, i’m going to kindly reject his “offer”.

What goes in my mind, is why does he offered me something like that?

He has now a girlfriend and she is pregnant, maybe he wants to save some of his assets?

Or maybe he wants to “share” with me his posible debts?

Had you live or see something similar? What’s your not biased opinión?

I know him since we were kids and we are almost brothers. He had never let me down in anything.

But this “offer” sounds very weird to me, and i feel that he is not being clear or honest, because the excuse is “to help me out”

But i wonder…

In what?

[MarketWatcherParticipant]

Friends and money do not mix.

[AposematicParticipant 2671]

You are correct. As a partner, you are 100% liable for any and all debts he fails to pay. Not worth it AT ALL.

Think of this as the business equivalent of MGTOW

Afinogyny.. from the Greek Afino {to abandon/ to set down/ to leave /to allow/ to let } + Gyny {Women} MGHOW’s philosophy to not engage women without “hating them”. Narcorca =Narcissistic Orca typically spouting to a bathroom mirror taking an arms length selfie ; Wallinate describes post wall females whose SMV is terminally negligible New Years resolution "To not make women happy" . Instadestitue: yet another Neologism for Men that cohabit with women that decide to pull the handle of intervention orders.

[experiencedParticipant]

MarketWatcher wrote:

Friends and money do not mix.

this

Sounds like cosigning on a loan. Don’t be suckered.

"It seems like there's times a body gets struck down so low, there ain't a power on earth that can ever bring him up again. Seems like something inside dies so he don't even want to get up again. But he does."

[BernieParticipant 254]

NO…NO…No.. My dad lost his business in a situation like that. You will probably not be the only partner. You can’t trust others. That you may not know.

[AwakenedParticipant 35200]

The Captain wrote:

if something goes wrong i’m going to pay debts with him

The Captain wrote:

I’ll earn a tiny bit, and that’s it.

The Captain wrote:

maybe he wants

The Captain wrote:

Or maybe he wants

The Captain wrote:

this “offer” sounds very weird to me, and i feel that he is not being clear or honest

What’s left to question ?

Walk Away……..

In a World of Justin Beibers Be a Johnny Cash

[WPLParticipant 2390]

I don’t know anything about your situation beyond what you posted, so I don’t intend to sound like I’m insulting your friend — but this sounds like a bad deal. As you said, why would he offer a deal like this? WHY does he need to list you as a partner, if not to potentially make you liable for debt? What’s in it for him?

[JustAnotherGuyParticipant]

10% profit sharing for 100% liability? That sounds like a GREAT deal. You should totally do it (/sarc)

Friends and Money. Oil and Water.

Cupcakes are Cold. MGTOW is Absolute Zero.
“Let us wait a little; when your enemy is executing a false movement, never interrupt him” –Napoleon Bonaparte, 1805

[The CaptainParticipant 133]

I really appreciate your answers and your points of view.

I had this feeling that this was a bad deal for me, and i didn’t find no reason to go ahead with it, i thought it before to post it.

But now… is not clear, it’s crystal clear.

Thank you everyone!!

[black_knightParticipant 2602]

The Captain wrote:

I had this feeling that this was a bad deal for me,

If there is one golden rule I’ve learnt in 4 decades of life, it’s this: always trust your gut instinct. It will never betray you.

[JakeParticipant 908]

be carful who you trust don’t be the insurance policy and give this person a miss not your friend.

[MattNYCParticipant 2329]

If it’s too good to be true, it is.

You get money. And you don’t have to do anything. LOL.

He’s bulls~~~ting you, and trying to take advantage of you.

[The CaptainParticipant 133]

black_knight wrote:

If there is one golden rule I’ve learnt in 4 decades of life, it’s this: always trust your gut instinct. It will never betray you.

Same age here, absolutely agree with your statement.

in other things ot related i had the same experience- when you hear that inner voice- or your body brings you “funny” sensations. (it’s an alarm)

You’d better be careful, if you want to keep on.

This is why i asked it here.

I also had advices on the subject, from three different business lawyers; not connected between them.

They said more or less the same, as everybody has pointed here.

It’s sad, because when your nearer realives/family are dead, and you think that you can trust only a couple or maybe three Friends, from the childhood.

You discover that you can’t trust nobody, except yourself.

People change along the way, i’m aware of that, but selling or using a friend for peanuts….?

I’m a bit disappointed, but it’s a relief also.

The best relief will be to say:

“I’m sorry man! i can’t sign this contract, i have to deal and cope with a lot of things right now, let’s talk about it after the summer”

The more he’ll get upset, the less friend he is.

[Secret Agent MGTOWParticipant 22507]

The Captain wrote:

Here’s the story:

I have friend who has a business, he had offered me to be his partner with a 10%, but here’s the trick i don’t have to invest, money, work or anything just my name, and he’s going to give me some money (Little) every month.

That means: if something goes wrong i’m going to pay debts with him, if things goes fine or normal as it should be. No problem.

I’ll earn a tiny bit, and that’s it.

There’s no need to mention, that i don’t like and more than sure, i’m going to kindly reject his “offer”.

What goes in my mind, is why does he offered me something like that?

He has now a girlfriend and she is pregnant, maybe he wants to save some of his assets?

Or maybe he wants to “share” with me his posible debts?

Had you live or see something similar? What’s your not biased opinión?

I know him since we were kids and we are almost brothers. He had never let me down in anything.

But this “offer” sounds very weird to me, and i feel that he is not being clear or honest, because the excuse is “to help me out”

But i wonder…

In what?

Theres a reason you are getting a weird/bad vibe about the deal. Do not do it. You are picking up on something isn’t right here. Politely pass, thank him for his concern, but you are doing fine.

Women want everything, but want responsibility and accountability for nothing.

[JVBParticipant]

Ohhhhhhh!! That kind of partner. My bad.

Peace is > piece.

[BeerParticipant 11832]

I’d never invest in a small business I didn’t plan on having an active role in managing. It just seems like a terrible idea. If people had a legit business plan and the right amount of motivation to get s~~~ rolling they’d just go to a bank and not have to deal with partners. Why take the risk when there are plenty of legit, profitable companies you could just buy stock in?

I guess its kind of different since he’s not actually asking you to invest anything and just wants to make you part owner…but that would just make me even more skeptical. Let’s just say your friend just finished up med school…would he tell you “hey man…once I get my first job I’ll give you 10% of my gross for as long as I have it, no strings attached.” I’m guessing no. Why would he want to sign over a % ownership in a business that is essentially his job if there wasn’t strings attached?

[The CaptainParticipant 133]

Beer wrote:

I guess its kind of different since he’s not actually asking you to invest anything and just wants to make you part owner…but that would just make me even more skeptical. Let’s just say your friend just finished up med school…would he tell you “hey man…once I get my first job I’ll give you 10% of my gross for as long as I have it, no strings attached.” I’m guessing no. Why would he want to sign over a % ownership in a business that is essentially his job if there wasn’t strings attached?

In the worst scenario: He’s drowned with debts and wants to share his pain with more people.

In the best scenario: He wants to hide some assets.

I told him three hours ago, that i’m sorry but i’m not going to sign up any contract.

He said O.K, there’s no problem.

[EvilcpuParticipant 217]

The Captain wrote:

In the worst scenario: He’s drowned with debts and wants to share his pain with more people.

I believe this is not the worst case scenario, but the real scenario. It’s just a guess, but is it my impression or he didn’t disclose any risk about this business?

Some people above said that friends and money don’t mix. In the majority of cases, I agree. However, I don’t see any contraindications if the business plan is structured in a clear and transparent way. In your case, the deal seems really sketchy. You did good not to accept.

For example, I recently started trading cryptocurrency with a friend of mine after a long time of doing that by myself. He wanted to join me so I disclosed him all the details, the risks and I made sure he understood what he was doing. Even if he wanted to spend more, I advised him to invest a smaller amount of money, only 20€. We didn’t sign any weird contract, I just mentor him, within the limits of my knowledge, and do this for fun and get some extra cash. I hope not having gone off topic with this, but I wanted to express my view on a healthy agreement between friends when money is of concern.

Out of your prime, out of my sight.

[Anonymous 43]

ask a lawyer. Do what the lawyer tells you.

the Lawyer should smack you in the back of the head and asks you “What are you, stupid? Don’t be a idiot.”

If the lawyer falls to smack you, pm me your address, and I’ll come over and do it myself. Lawyer will be gentle, I won’t be.

[bstoffParticipant 4863]

Show the contract to a lawyer friend if you have one. I wouldn’t bother paying a lawyer to look at it.

If this guys is your “friend”, what kind of friend would lead a guy into a contract like that?

What do you know about his pregnant girlfriend?
Is she likely to have pushed him into victimizing you for money?
If so, I would reconsider your friendship at this point.

[Author]

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