Glenn v. Weill (Gleich)

Opinion by

Me. Justice Kephart,

D. Gleich & Company, a partnership formed April 14, 1928, was composed of Glenn, Weill and Gleich. Prior to that date, Gleich was the sole proprietor of the business. By the terms of the partnership agreement Gleich sold to Glenn and Weill each a “one-third interest in said business.” Gleich was to receive a salary of $6,000 a year, and Weill a salary of $5,000 a year, while Glenn, who was not required to give his time to the business, was to receive $2,500 a year against his share of the net profits. The partnership was dissolved on December 31, 1931, by the…