Bradbury v. Nagelhus

MR. JUSTICE CASTLES:

This appeal arises out of a dispute between long-time neighboring ranchers who signed a writing, agreeing to become “equal pardners [sic] in the purchase” of adjoining grazing leases and ranch lands. Technically, what they undertook is the form of quasi-partnership activity called a joint adventure. Inter se, joint adventurers are obligated as trustees. The litigation which developed is brought on the theory of a constructive trust.

The parties began their venture by each contributing $1,000 to bind a $19,500 one-year purchase option covering the lands and leases. They…