What is my recourse regarding getting money back from a joint investment?
Question Details: I was in a equal partnership where I invest nearly 8k. Long story short, I had to drop out 3 months in for personal reasons. The other partner agreed and proceeded to run the business. The day I dropped out, we agreed to repay my investment with a 10 discretion. Months later, the other partner still has not refunded me and now is saying that the business hasn't made enough money and she put in an additional 10k to revamp the business and now does not want to give me back anything. Am I entitled to my money back?
No, you are not. When you invest in a business, the investment is not a loan to be repaid; it is essentially "buying" an interest in or piece of the business. As such, there is no right to repayment or reimbursement. When you invest, there is the chance that either the business will fail or that you will be unable to continue in it for, as you say, "personal reasons" and that is a risk you take one when investing--that you will lose your investment.