I bought the ATV it did not have a carb so i bought one but it wont run unless you hold the throttle all the way down then it runs very weak wont stay runing
Sounds like you need a carb rebuild. I had a Bayou 250 that dripped gas out the carb overflow hose when the engine isn't running. The float in the carb was stuck. If your rings were shot and low on compression, it would be spitting engine oil out the crankcase vent hose. You can get a carb rebuild kit off eBay for under $20 shipped.