Ask The Business Lawyer

Such a saga!  Here's how it ended:

• Grace finally confided that had changed her mind and she didn't want to be involved with the network marketing organization.  But, if I still wanted to go forward with it, she'd do so, because she promised me that she would. 
• I told Grace that if she really wasn't enthusiastic about the opportunity, I wouldn't hold her to her promise -- that I didn't want a business partner who didn't really want to be part of a business save for an "obligation."  I would rather we parted as "business partners" at this very early stage and stay close colleagues and friends, than "force" her to stick with it, and have us both become angry and resentful in the long run. 
• Ultimately, I myself backed out of the network marketing opportunity.  Without a business partner, and without a compelling tie-in to my current businesses, I just felt that this was spreading myself too thin.  
• I got a credit for everything except $40.  Grace is buying me lunch. 

All things considered, I got lucky.  I invested a minimum of time (about 45 days) and money ($600) before I realized it was the wrong venture (and the wrong partner).  I was able to get myself out of it easily, without messy complications, as we hadn't even set up the business entity yet (looking back, thank God we couldn't agree on a business name!).  And best of all, I have a new "war story" to use as a cautionary tale!