1099 Independent Agent Sticky Situation

[gr8s2u]

Thanks

 

[somarco]

What does your contract say?

 

[TXINSURANCE]

What did you agree to IN WRITING ? If you have nothing in writing, unfortunately this is a painful life lesson.

 

[Chkndinner14]

I don't mean to be rude, but it would go back to the written contract which it sounds like you don't have. Without that, what do you have to stand on?

 

[gr8s2u]

Thank you for your replies. You're right there was no contract, but it was a freind and I was really seeking individual opinions on what agents out there would think was fair, not necesarily legal (although it was undoubtably, a major mistake). Thanks again.

 

[Chkndinner14]

As far as fair, I would not give any vesting to anyone until the hit the 5 year mark and they are a vital part of the org.

 

[xrac]

Whereever you work even with friends or with an understudy always have a written agreement. What ever is generally understood will be generally MISUNDERSTOOD. I just talked to a friend who was deprived of $25,000 in a real estate deal because the deal wasn't in writing and his partner took all of the profit that was suppose to have been 50-50.

 

[somarco]

Even with a contract, dealing with family or friends can create issues . . . especially where a significant sum of money is involved.

I you do not believe it, just ask anyone who has settled an estate.