Saturday, November 23, 2013

Hynansky v. Vietri case brief

Hynansky v. Vietri case brief summary
2003 WL 21976031


CASE SYNOPSIS
Plaintiff, a partner, brought an action against defendant, an alleged partner, to obtain payment of defendant's initial capital contribution for the purchase of land, and defendant's pro rata share of a business venture's losses. Plaintiff moved for summary judgment, and defendant moved for summary judgment and for sanctions.

CASE FACTS
The parties entered in to a business venture to purchase and develop a parcel of land. Because of zoning obstacles, the parcel could not be rezoned as the parties had intended and eventually it was sold at a substantial loss. The parties had executed a partnership agreement in the course of the land transaction. Defendant claimed that he did not read the agreement, but instead relied on his attorney, who was also representing plaintiff and the partnership, to implement the business arrangement under some type of limited liability entity.

DISCUSSION

  • The court found that in determining whether the parties intended to create a partnership, the court had to confine its analysis solely to the terms of the partnership agreement. 
  • The court held that because any conclusion as to the parties' intent to form a partnership would require the court to balance the conflicting evidence, the court could not grant summary judgment on the question of whether a partnership was formed. 
  • Furthermore, the court denied plaintiff's motion for summary judgment upon all his other claims, as they were premised upon a finding that a general partnership existed between the parties.

CONCLUSION
The cross-motions for summary judgment and for sanctions were denied.


Recommended Supplements for Corporations and Business Associations Law

No comments:

Post a Comment

Search Thousands of Case Briefs and Articles.