Smith v. Kelley case brief summary
465 S.W.2d 39 (1971)
CASE FACTS
The employee worked for the partners and received a salary plus travel expenses. At the end of each year he was paid a relatively small additional sum as a bonus out of the profits of the business. After the employee discontinued his employment with the partners, he claimed that he was entitled to a fixed percentage of the profits, and commenced the instant action for an accounting. The trial court held that no partnership existed and dismissed the claim.
DISCUSSION
CONCLUSION
The court affirmed the trial court's judgment in favor of the partners.
Recommended Supplements for Corporations and Business Associations Law
465 S.W.2d 39 (1971)
CASE SYNOPSIS
Appellant employee sought review of a
judgment of the trial court (Kentucky), in favor of appellees
partners in an action seeking a partnership accounting.CASE FACTS
The employee worked for the partners and received a salary plus travel expenses. At the end of each year he was paid a relatively small additional sum as a bonus out of the profits of the business. After the employee discontinued his employment with the partners, he claimed that he was entitled to a fixed percentage of the profits, and commenced the instant action for an accounting. The trial court held that no partnership existed and dismissed the claim.
DISCUSSION
- On appeal, the court found that the conduct of the parties over a three-and-one-half-year period confirmed the conclusion that, though the employee was held out to the public as a partner, between themselves a partnership relationship was not intended to be and was not created.
- Additionally, there was no writing evidencing a partnership agreement.
CONCLUSION
The court affirmed the trial court's judgment in favor of the partners.
Recommended Supplements for Corporations and Business Associations Law
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