Kerhulas v. Trakas

PHILLIPS, Judge.

The defendants’ appeal does not directly contest the main thing decided by the trial judge — that the notes of LPT Enterprises were not part of that concern’s capital structure and thus were not left to trustees for Jean M. Mentavlos by the above provision. Thus, that part of the judgment appealed from is presumed to be correct, London v. London, 271 N.C. 568, 157 S.E. 2d 90 (1967); it is also correct both in fact and law. The notes do not represent anything that the partnership owned and could distribute to the partners; they only represent a debt that the partnership owed…