Join Date: Feb 2010
Location: Narragansett Bay
Thanked 284 Times in 267 Posts
Rep Power: 7
Is this a record. A thread brought back to life twice?
Well, since it's back and won't go away, I'm in with some comments.
A partnership is always the first ship to sink. The relevant language is how you get out, not in. More importantly, only accept a partner that you are confident has the financial means to take you out. Never take a partner because you couldn't afford the boat on your own or if you are not able and willing to sell it at a discount to dissolve the partnership. That is the risk of having a partner. Only take a partner because the risk of it going badly, is compensated for you possibly being able to sail at half cost. They aren't bad, just be a Boy Scout and Be Prepared.
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In the harsh marine environment, something is always in need of repair. Margaritas fix everything.