A group of people set up a company by way of partnership. The company was officially registered with the…

Question

A group of people set up a company by way of partnership. The company was officially registered with the authorities. However, I relinquished my share in favor of another person who bought it from me. He paid me the price by five checks which bounced. When I approached the buyer, he took the checks from me and restored my share in the company, but he remained officially the stockholder. It transpired that he sold the share to another party. Has he the right to do so? And do I have the right to demand the restoration of my stake in the company?

Answer

If the buyer, who revoked this sale after he had got his checks back, sold the share to a third party before the cancellation, this sale is valid. If he had sold the share after the cancellation, this sale cannot go through unless you sanction it.

Source·Ayatollah Sayyid Ali Khamenei·leader.irleader.ir

Ayatollah Sayyid Ali Khamenei · Accepted Answer

If the buyer, who revoked this sale after he had got his checks back, sold the share to a third party before the cancellation, this sale is valid. If he had sold the share after the cancellation, this sale cannot go through unless you sanction it.

A group of people set up a company by way of partnership. The company was officially registered with the…

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