Sunday, November 24, 2013

G & S Investments v. Belman case brief

G & S Investments v. Belman case brief summary
145 Ariz. 258, 700 P.2d 1358 (1984)


CASE SYNOPSIS
Appellant estate of deceased sought review of a decision of the Superior Court of Pima County (Arizona), which entered judgment in favor of appellee general partnership, in the general partnership's action invoking its right to continue the partnership and acquire the deceased's interest under the articles of limited partnership.

CASE FACTS
The general partnership, the deceased, and two other partners were engaged in a limited partnership. The deceased started using cocaine and caused enormous problems. The partnership, deciding that he was incapable of making rational business decisions, sought dissolution of the partnership; however, shortly after filing the complaint, the deceased died. The partnerships filed a supplemental complaint invoking their right to continue the partnership and acquire the deceased's interest under the articles of limited partnership. The lower court entered judgment in favor of the general partnership.

DISCUSSION

  • On appeal, the court affirmed. 
  • The filing of the original complaint did not cause dissolution because dissolution occurred only when decreed by the court. 
  • The partnership did nothing to cause estoppel; it was apparent from the face of the complaint that there was no guarantee that the partnership's assets would be liquidated. 
  • Because there was independent evidence to corroborate the transactions of decedent, the court did not err in admitting testimony concerning transactions with or statements by the decedent.

CONCLUSION
The court affirmed the decision of the lower court, which entered judgment in favor of the general partnership, in the general partnership's action against the estate of deceased invoking its right to continue the partnership and acquire the deceased's interest under the articles of limited partnership.

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