Thompson v. Ford

The complainant herein is a grandson of the late Volney F. Gossett. Mr. Gossett and his grandson were on affectionate terms, and the grandfather bought an interest in an insurance and real estate business at Knoxville for his grandson. Mr. Gossett took no active part in the management of this business himself, but the partnership continued for several mopths.

In November, 1915, Mr. Flenniken, one of the partners, undertook to buy out the interests of the other two partners. On November 18, 1915, he concluded an arrangement with Mr. Gossett, whereby he bought the latter’s interest in the firm…