Singer v. Singer case brief summary
634 P.2d 766 (1981)
CASE FACTS
After the partnership deferred a decision on purchasing certain real estate for investment purposes, the individual partners purchased the land in question. Subsequently, the partnership demanded that it be permitted to purchase 50 percent of the property, which the individual partners ultimately refused. The partnership then brought an action to impose a constructive trust on the real estate that was bought by the individual partners. The trial court ruled that the partnership and its investors, who were not a party to the action, were entitled to participate in the purchase and imposed a constructive trust on the property, and the individual partners sought review.
DISCUSSION
The court reversed the trial court's judgment that imposed a constructive trust in favor of the partnership on real estate that was bought by the individual partners. The court remanded to trial court with instructions to vacate the trial court's judgment and order judgment be rendered in favor of the individual partners.
Recommended Supplements for Corporations and Business Associations Law
634 P.2d 766 (1981)
CASE SYNOPSIS
Appellants, individual partners, sought
review of the judgment of the District Court of Oklahoma County
(Oklahoma), which found that appellee partnership was entitled to
participate in a consummated purchase and that imposed a constructive
trust on the property that was bought by the individual
partners.CASE FACTS
After the partnership deferred a decision on purchasing certain real estate for investment purposes, the individual partners purchased the land in question. Subsequently, the partnership demanded that it be permitted to purchase 50 percent of the property, which the individual partners ultimately refused. The partnership then brought an action to impose a constructive trust on the real estate that was bought by the individual partners. The trial court ruled that the partnership and its investors, who were not a party to the action, were entitled to participate in the purchase and imposed a constructive trust on the property, and the individual partners sought review.
DISCUSSION
- On appeal, the court held that, based on the record, the trial court's judgment was clearly against the weight of the evidence.
- The court found no evidence of clear, unequivocal, and decisive quality to justify the implicit finding that the individual partners acted for the benefit of the partnership or the "oral" partners to the partnership.
- The court held that the partnership had contracted away its right to expect a noncompetitive fiduciary relationship with any of its individual partners.
The court reversed the trial court's judgment that imposed a constructive trust in favor of the partnership on real estate that was bought by the individual partners. The court remanded to trial court with instructions to vacate the trial court's judgment and order judgment be rendered in favor of the individual partners.
Recommended Supplements for Corporations and Business Associations Law
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