COMM 393 Chapter : Case Brief - Lanz V. Lanz - PARTNERSHIP.docx
Document Summary
The plaintiff (robert lanz) associated himself with the business of his father, the defendant. After fifteen years working together, the pair had a falling out and left the business. The son"s interest in the firm was a claim to 40% of the profits, with no obligation for debts and no clear title to assets. The son charges in this action that, since their arrangement was a partnership, he is entitled to an equal share in the returns of the business upon its dissolution in 1990. As a cause of action, he refers to income tax returns claiming the business as a partnership, and his father"s reluctant acknowledgment that he thought it was a partnership. Reasons: the plaintiff did not actively engage in any management of the firm, and made no more contribution than the driving of a truck in exchange for 40% profit compensation.
