Closuit v. Mitby

Magnet, Justice.

Plaintiff and defendant are physicians and surgeons. Both practiced in Aitkin. On July 1, 1948, they entered into an oral partnership agreement. Defendant sold to plaintiff a one-half interest in his medical practice, including equipment and property used in the practice and owned by him and excepting his accounts receivable on July 1, 1948, which would be paid within one year and his own personal medical kit. After one year anything that was collected on the old accounts was to be partnership income. Plaintiff paid defendant $8,000 for the one-half interest. Any new equipment…