Trucking: need to know about truck bussiness, business lawyer, luck jim

Question
I am new in this and my husband's friend is  a truck driver but don't have the money to buy a truck so me and my husband have $50.000 we would like to start a business but my husband's friend says we  put the money to start the company and he put his experience and the name  because he has good credit to buy the truck but he wants to have 50% of the company profit when we are going to put the money ,but we don't know anything about the business  is this fair.

Answer
Maria, what you are describing is a typical partnership where one party puts up the money and the other the expertise.  The 50/50 split of profits is typical but certainly can be negotiated to whatever is agreeable between the partners.  My concern is that you would risk your money in a business that you admit you don't know anything about.  You are totally as risk if he fails.  You can put a lien on the truck but you don't want to deal with selling a used truck.  My advise is: don't do it, but if you do, get a good business lawyer to set up the partnership to protect your interests.  Good luck.  Jim.