Steckroth v. Ferguson

This is a hill to dissolve the partnership of ‘ ‘ Steokroth & Ferguson Automotive Machinists, ’ ’ which was established in 1933, with capital of $2,700, and has present assets of about $8,500. The partnership contract provides for its continuance for 10 years, hut with right of either partner to terminate it at the end of 5 years. It further reads:

“19. In the event of dissolution on account of death or other reasons, the surviving or remaining partner shall have the right to buy up the interest of the other partner at its book value in the last annual statement, plus 50 per cent, of the…