In 2013 I started my business with a partner. A couple of years into it we realized we both had a different vision and I agreed to buy him out. He was controlled by his mother and she was nuts which was part of the issue. We were just starting and so the amounts were relatively small and the terms were very favorable to me. I gave him a small lump sum up front and then a monthly payment at no interest for the next three years. Essentially he gave me an interest free loan for the remainder of the purchase.

All of this was discussed in emails and the documentation was very clear. There was no possibility of him not understanding how the terms were set. He signed the documentation and emailed me the signed copies. Frankly I was a little surprised that he would agree but I was grateful because it could have sunk us if he decided to play hardball.

It wasn't much more than an hour or so after he signed and emailed me the documentation that I got another email from him stating that his mother thought it would be beneficial for him if I got a loan for the remainder that I owed him and paid him off then. I was quite amused that in the two weeks that we were negotiating he never once brought this up. I found myself laughing at the timing. He had plenty of time to bring it up but waited until AFTER the documentation was signed? Who does that? I responded that I would be happy to and let him know how that would affect the terms, lowering the principle significantly as it would cost me quite a bit to do that. I let him know that I would be happy to draw up new documentation and the attorneys fees for doing that would come out of the principle as well. Strangely enough, I didn't hear another word.

I am reading this about the ISU student government wondering what they were doing for the two weeks that everyone was talking about expansion leading up to the vote and why they waited until now? Maybe my former business partner is the ISU student government advisor..