Partnership Law: Can A Partnership Exist Without A Formal Agreement In Florida?
Business partners should always have a formal, written agreement that has been drafted and reviewed by an attorney. This raises an important question: Can a business partnership be formed in Florida with a written agreement? The answer is ‘yes’—if you act like you are in a business partnership, you may have formed one even without a formal agreement. In this blog post, our Miami partnership dispute attorneys explain the key things that you should understand about informal partnerships and legal disputes in Florida.
Florida Law: Formal Agreement Not Required to Establish Partnership
Florida courts use an “objective” legal standard to evaluate the formation of business partnerships. The state does not require a written partnership agreement. As is well explained by a Florida appeals court in the case of Rafael Roca v. Lytal & Reiter, an informal, oral partnership “agreement” can be enforced if there has been a meeting of the minds and it is consistent with the actions of the parties.
Summary: A business partnership can exist even without a written agreement in Florida. An oral partnership agreement even without a verbal “offer” and “acceptance” may be legally valid.
Three Tips for Navigating a Partnership Dispute Without a Written Agreement
Dealing with a business partnership dispute is never easy—it is even more challenging when there is no written partnership agreement in place. Here are four tips that you can use to navigate a partnership dispute if you do not have a written agreement:
- Organize All Documents/Records You Have: Any documents or records that you have may still be relevant to your legal dispute. One of the first things that you need to do when you are in a partnership dispute without a partnership agreement is to gather all of the evidence and information that you have.
- Consider Options for Collaborative Solutions: Even if there is a sharp disagreement, business partners still often share many mutual interests. For this reason, collaboration is often the best approach to take in a partnership dispute. You should try to look for all potential options to resolve the matter outside of litigation.
- Get Professional Help: You do not have to go through a business partnership dispute alone. An experienced South Florida partnership dispute attorney will be able to hear your story, review all of the documents and records you have, clarify the key issues, and take whatever legal action is required to protect your best interests.
Consult With Our Miami, FL Partnership Lawyer Today
At Pike & Lustig, LLP, our Miami-Dade County commercial litigation attorneys have the professional skills and legal knowledge to handle all types of partnership law cases. If you are in a partnership dispute without a formal written partnership agreement, we are here to protect your rights and interests. Get in touch with us by phone or use our online contact form to set up your fully private consultation. We handle partnership disputes from our offices in Miami and West Palm Beach.