Question: Jones and Hardy entered into an oral partnership agreement They

Jones and Hardy entered into an oral partnership agreement. They planned to develop and lease certain areas of land. Together, they formed the Bloomington Knolls Association. Jones and Hardy began to experience financial problems, and they brought in a third partner, Jackson, to arrange additional financing for the project. Jones subsequently dissolved the partner- ship and requested that he be given a portion of the land as his share of the partnership assets. Jackson and Hardy did not honor his request, and Jones never received any assets of the partnership. Jones moved for an accounting and winding up of partnership aff airs and brought the case to court. The district court entered judgment against Hardy and Jackson, jointly and severally, for an amount representative of Jones's interest in the partnership. Jackson and Hardy appealed the district court's decision. How do you think the court decided?

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  • CreatedOctober 21, 2015
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