Timmermann v. Timmermann

This is a suit in equity for an accounting and for the winding up and termination of the farming partnership of Timmermann and Company. The trial court found that the partnership was dissolved by plaintiff, Lynne Timmermann, on August 31, 1970. The court further held that plaintiff, by delay in bringing about a forced liquidation, elected to become a creditor of the partnership under OES 68.640. Thus plaintiff was entitled to receive, at his option, either the value of his interest in the partnership as of the date of dissolution plus interest at the legal rate or profits attributable to the…