Gutting v. Jacobson

Clarence Gutting sought a joint venture accounting from Eugene and Madeline Jacobson, husband and wife, and four corporations, styled Realty, Properties, Construction, and Investors. Madeline owned Realty, Properties, Construction, and most of Investors which listed two other stockholders, her sons. Managing the joint venture, composed of Clarence, Eugene, and Realty, to speculate in raw land, Madeline had platted Bel Air Village. Properties, the conduit of title, for substantial sums conveyed Lot 178 to Investors and other lots to Construction.

The district court found that Clarence had…