Business partnership related
I am giving background to the issue as in legal terminology I am unable to put down the title. Its regarding the issue my husband is facing.
For last one year, he is engaged with one of his college senior in a business. Previously that senior guy assured that they will be partners, while he will provide the funds my husband will be the main workforce. My husband gave up his job and started working when the other guy is still continuing with his job.
In past one year, no paper work has been done regarding the partnership.
It has been real hard for us to meet the bare necessities of the family, as there has been irregular flow of money (previously not more than 10000 per month). Before two months, the senior guy agreed that he will give 30000 per month for our sustenance as my husband has no other source of income and he is working full time for the business. But it has gradually stopped just after one month.
None of these agreements are on paper.
Anybody please guide me how to sustain in such condition, what steps can be taken to handle the situation.