Hurwitz and Padden practiced law as equal partners for a short period of time before converting to

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Hurwitz and Padden practiced law as equal partners for a short period of time before converting to an LLC. Some three years later, Padden informed Hurwitz that he intended to leave the firm. When they could not agree on how to divide $200,000 in fees relating to work acquired before the dissolution of the LLC, Hurwitz filed suit seeking an equal division of the fees under partnership principles. Padden contended that partnership principles should not apply to the dissolution of an LLC even though the state’s LLC law incorporated the definition and use of the term dissolution from the UPA. Decide. [Hurwitz v. Padden, 581 N.W.2d 359 (Minn. App.)]

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Andersons Business Law and the Legal Environment

ISBN: 978-1133587583

22nd edition

Authors: David P. Twomey, Marianne M. Jennings

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