If I have a “Verbal Agreement” with an employer, that I will be given a minimum of 1 year to try to build up a business. After that year is complete if my numbers showed a profit I would have the option to continue or buy out business. If not able to show profit it is the employers choice to continue or to terminate the business. I have been showing profit outlined in business plan, but another source is interested to job site so employer wants me to shut down.
It has only been 7 months into the 1 year agreement. He intends to let my staff go without notice(2 weeks before Christmas). He does not intend to notify clients or vendors to cancle reservations or deliveries already scheduled and paid for. He wants to lock doors and for business to be gone.
Commitments pending are not to be contacted. All future business will be directed to his office. My reputation most likely taking fall for all of it.
I am aware he needs me gone before end of year for tax write off, but can I stop hime since 5 months remain before our “verbal Agreement” has been fulfilled. Can I stop him from closing me down since time remains and profit is being