White v. Hickey

Lawson Cloninger, Judge.

This case involves the liquidation of the assets of a partnership and a disbursement of insurance proceeds.

In 1961, Dr. Thomas H. Hickey, the appellee, and Dr. Henry B. White entered into a written partnership agreement to engage in the practice of medicine in a clinic in Morrilton, Arkansas. The agreement provided that the partners would equally divide the profits of the partnership, and that upon the death of either partner the partnership would be dissolved. Thereafter, the two partners purchased four life insurance policies in the amount of $15,000 each.. The…