Partnership
My Uncle and I were
business partners for twenty years.
At one point I suggested we have partnership agreement.
He told me this story about a mutual
acquaintance.
Our friend was a young immigrant whose language whether in the parlor car or in the parlor was
liberally sprinkled with profanity. His education
in the U. S. was limited.
How he became engaged to the daughter of a sophisticated upper middle class family was not part of the story.
The father of the bride not willing to see his spoiled daughter step down in status agreed to loan his son in law money for a business venture with the proviso that the bride's brother, an accountant be an equal partner.
Over the years the business prospered. The groom was the outside man and the brother in law tended to the financial end.
Then two things happened. The marriage soured and disagreement began the tear the partnership apart.
The bean counter turned down venture after venture as too risky.
Our guy
finally said enough is enough. It is time to end our relationship.
Since you are challenging me, our partnership agreement states that you must come up with cash money within seventy two hours or
I have the option to buy you out.
In anticipation I have come up with the paperwork and here is the amount you will need.
Where to get the money? Several friends who had nice homes and cars admitted they owed far more than they had.
A wise client suggested he go to his banker.
The loan officer looked at the paperwork and then opened a filing cabinet
and extracted a file containing a stack of I. R. S. returns.
After a quick study he asked, "Don't you know that your partner is playing games with you? Believing you could not raise the money he has put the price far under the true value of your company. On the street they say that you have spunk. I will give you a cashier's check for this amount plus I hope you will use us for your day to day operation.
On being presented with the check the brother in law's jaw dropped.
I am sure the urbane accountant always made a living.
Our hero remarried a more down to earth wife and together they became multi-millionaires and the guys at the exclusive clubs thought his stream of "blue" language was cute.
