Doesn't appear to me to be much different than being in a partnership on an Outlaw sprint car, which I once was with a cousin of mine. It lasted two years.
Whenever major, unexpected expenses came up, it seemed to always catch one partner at a bad time, so the other partner got honked. Then the other partner had a he11 of a time catching back up.
Then there are simple misunderstandings. I once set an engine block in my cousin's shop in case we needed it. Then a month later I needed it myself for a project of my own. My cousin thought I'd donated the block to the partnership and assumed he owned half of it. We settled it amicably and I got my block back, but it was still an uncomfortable situation.
After two years, we mutually agreed that the partnership was a bummer. I liked it better when I was sole owner of my late model stock car. My driver got a percentage of the winnings, and I was responsible for everything else, win or lose, with nobody else to answer to.
If you do go into a partnership on the airplane, make sure you have an attorney draw up a contract of about ten pages of whys and wherefores, contingencies, if this happens, then that results, etc. I'd personally avoid it like the plague.
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Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
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