Partner on 18 wheeler

Discussion in 'Questions To Truckers From The General Public' started by Lgaff, Mar 21, 2021.

  1. tommymonza

    tommymonza Road Train Member

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    My father the Entrepreneur from the age of 12 always told me to think long and hard before you go into partnership on a business , and than don't do it.

    I did not heed his warning on one of my entrepreneurial adventures wth a newly acquired friend 30 years ago.

    I'll just say this , never ever a partner again .
     
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  3. TripleSix

    TripleSix God of Roads

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    He has 2 trucks of his own and needed your help to buy the 3rd. The agreement was to split everything 50/50. Correct?
    Who is driving your truck? Your former friend whom you partnered with? If he isn’t paying himself a wage for operating the truck, he is losing big on your agreement. I would expect him to know better than that.

    Next, he’s planning to repay you your $10 grand and you take the truck too? Very generous of him. Seriously, very generous. Don’t you think so, @Dave_in_AZ and @Ridgeline ?

    What should you do with the truck? Sell it and profit whatever you sell it for OR since it’s already leased on to a company, hire a driver and a dispatcher.
     
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  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Well now is about the best time ever to get rid of a truck, cause there is a real truck shortage, so might not lose too much on it.
     
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  5. RockinChair

    RockinChair Road Train Member

    That right there should've been a huge red flag.

    You need to consult with a good attorney, but don't get your hopes up.
     
  6. 88 Alpha

    88 Alpha Trucker Forum STAFF Staff Member

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    It appears the OP didn't take the advice given in the linked thread.
    2 names on title?
     
  7. roundhouse

    roundhouse Medium Load Member

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    I’ve seen several threads with this theme.

    What don’t understand is why people “invest” in trucks that other people operate.

    if the person wanting the money is successful in trucking , why would they need your money and be willing to hand over some of the profit to you?

    if you can get the truck back and get it sold and break even , chalk it up as a win.

    As Dave Ramsey says : the ship thats always guaranteed to sink, is a partnership.
     
    RockinChair and Cowboyrich Thank this.
  8. CrappieJunkie

    CrappieJunkie Wishin' I was fishin'

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    Not sure you can send him to jail. Ot is most likely a civil suit where you will have to sue him.

    That being said, and I say this with all due respect, none of us are lawyers. Yku might want to contact one to get you legal options. Most have free inital consoltations to see if you have a case.
     
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