Can I sue a partner in my company if they agreed to invest but then pull out of the deal?
Question Details: My 2 former partners and I set up an LLC and 1 of the partners agreed to invest $400,000; we have a signed operating agreement stating so. They have now simply pulled out of the company for purely selfish reasons and I need to know if there are grounds for a lawsuit
You write that you have a "signed operating agreement stating" that the partner will invest $400,000. An operating agreement can function like a contract, and contracts are enforceable in court: you may therefore be able to sue your partner based on "breach of contract" (violating the terms of the contract) to force them to invest. Much depends on the exact terms of the agreement, since contracts are enforced as per their plain terms; bring the agreement to an attorney to review with you; the lawyer can confirm whether you can sue on this basis and, if so, can initiate the lawsuit for you.