Lee v. Tysdal

In 1874 plaintiff entered into an oral partnership agreement with L. O. Tysdal and Osmund Tysdal. Two years later it was dissolved by mutual consent. Plaintiff claimed that no settlement was ever made as to the partnership assets. In April, 1918, L. O. Tysdal (reciting that he was authorized to act for Osmund Tysdal) and plaintiff signed a paper as a submission to arbitration to “settle the old partnership.” Each chose an arbitrator and these two selected a third. The three then, upon written statements from the parties, decided that the partnership had been ignored by the Tysdals, and…