Page v. Page

From Clever Camel Wiki
Jump to navigationJump to search

Issues

  1. Was the dissolution of the partnership done in bad faith?
  2. Do the terms of the partnership agreement constitute an agreement to stay a partnership for a term?

Discussion

  1. The court says that if there is wrongful dissolution - i.e. the dissolving partner acted in bad faith (in an attempt to dissolve the partnership and then start another one, thereby excluding the other partners) - then there would be damages.
  2. The partnership agreement says that the company will stay together until the partnership becomes profitable. The court says that this agreement does not constitute a partnership term; every partnership has the hope of eventually becoming profitable.