Larsen v. Burroughs

The plaintiff is a partnership of medical men operating as the Le Mars Clinic. In 1934, Shepard, one of the members, became disabled, and 0 ’Toole entered the partnership. In September 1934, the defendant was advised of the prospective retirement of Shepard, and negotiations were had which finally resulted in the execution, on September 20th of that year, of the contract which furnishes the basis of discussion herein. After providing for the payment of $1,800 a year beginning October 1, 1934, and other specifications which we need not now consider, the contract provides:

"Party of the Second…