(Download) "Louise E. Elliot v. Philip Elliot" by Supreme Court of Idaho No. 9400 # Book PDF Kindle ePub Free
eBook details
- Title: Louise E. Elliot v. Philip Elliot
- Author : Supreme Court of Idaho No. 9400
- Release Date : January 16, 1964
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 59 KB
Description
Defendant (appellant) in partnership with his brother, Gordon Elliot, began farming in 1951. The partners leased lands from their father and uncle by oral lease upon a year to year basis. Of this leased land 378 acres was farm land and 320 acres grazing land. In 1952 they expanded their operation to include 130 acres of Indian farm land. This land was leased, from Indian allottees, in the name of Gordon Elliot as lessee by written leases dated January 16, 1952, expiring December 31, 1957. The partnership also engaged in cattle raising. There were no written agreements of any kind between the partners and they kept no books or accounts and filed no partnership income tax returns. No common or joint bank account was maintained. Partnership obligations were paid by the partners individually. No formal accounting was ever had between them. Each partner had a 50% interest in the business and assets of the partnership. However, at the end of the year 1954 the partners agreed that thereafter each would purchase and pay for equipment ""on his own."" The court found that at the end of each year the partners settled their receipts and disbursements on terms and in a manner satisfactory to themselves.
 "Louise E. Elliot v. Philip Elliot" by Supreme Court of Idaho No. 9400 # Book PDF Kindle ePub Free){kind=link}