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Corporate : Partnership – Winding Up – Buy-Sell Agreement
Stephanie Maniscalco//May 12, 2015
Where partners to a farming partnership sought an accounting, damages for breach of fiduciary duty and rescission of a buy-sell agreement after they claimed defendant-partners failed to disclose a settlement amount received from Bayer Crop Science for the spread of genetically modified rice onto the partnership’s land, judgment for the defendants is affirmed because substantial evidence supported the trial court’s findings that the plaintiffs had notice of the litigation and that there were no assets were omitted from the buy-sell agreement.
Judgment is affirmed.
Mick v. Mays (MLW No. 67786/Case No. SD33149 – 10 pages) (Missouri Court of Appeals, Southern District, Sheffield, J.) Appealed from circuit court, Butler County, Pritchett, J. (Christopher Lynn Yarbro, Poplar Bluff, and Samantha D. Pennington, Poplar Bluff, for appellant) (Samuel P. Spain, Poplar Bluff, and Matthew B. Lee, Poplar Bluff, for respondent).
Read the full text of this opinion. (PDF)
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