Parties often begin a business together without thinking through all of the legal details that define their rights. When they eventually divorce, they need to resort to the language in agreements that they entered into and also rely on statutory and common-law principles. In one recent case, the court held
partnership fiduciary duties
Court Affirms Punitive Damages In A Breach-Of-Fiduciary-Duty/Partnership Dispute
By David Fowler Johnson on
Posted in Cases Decided, Texas Court of Appeals
In Home Comfortable Supplies, Inc. v. Cooper, the defendant induced others to start a new limited partnership with his corporation. No. 14-16-00906-CV, 2018 Tex. App. LEXIS 1381 (Tex. App.—Houston [14th Dist.] February 22, 2018, no pet. history). Among other things, he then seized the new business’s tangible assets and…
Court Holds That Plaintiff Did Not Establish Continuing Tort Theory To Defeat A Statute Of Limitations Defense To A Breach Of Fiduciary Duty Claim
By David Fowler Johnson on
Posted in Cases Decided, Texas Court of Appeals
In Vaschenko v. Novosoft, Inc., a partner from an alleged oral partnership sued his partner for breach of fiduciary duty. No. 03-16-00022-CV, 2018 Tex. App. LEXIS 771 (Tex. App.—Austin January 26, 2018, no pet. history). The trial court granted the defendant’s motion for summary judgment based on limitations, and…
Court Holds That Fiduciary Duties Did Not Arise In A Licensing Transaction
By David Fowler Johnson on
Posted in Items of Interest
In Jacked Up, LLC v. Sara Lee Corp., Jacked Up entered into a licensing agreement whereby Sara Lee would produce and sell energy drinks developed by Jacked Up. No. 15-11019, 2017 U.S. App. LEXIS 7311 (5th Cir. April 25, 2017). Shortly thereafter, Sara Lee sold its beverage division to…