Bernstein, Bernstein, Wile & Gordon v. Ross

Defendant, after working for plaintiffs for about two years, entered into a written agreement with plaintiffs’ accounting partnership, whereby he purchased a 5% interest therein for the sum of $23,456.09. No initial payment was made as the agreement provided for payment out of defendant’s share of the profits. Two instruments, one titled “Partnership Agreement” and the other “Agreement for Sale of Partnership Interest” were executed by the parties. Defendant thereafter became increasingly dissatisfied with the arrangement, alleging inequities in management and profits, and about a year later,…