equity/funding partner backs out

[Mario T.]

Has anyone ever had issues dealing with a equity/funding partner that backed out?  For example.  I have a contract for a flip under my business name that i am the sole owner of.  Once contract has been ratified, i put the deposit down and then when it's time to rehab, the partner backs out and doesn't want to do the deal anymore.  

Anyone have this happen to them and how did they go about solving the issue?