Weller v. Simenstad

This case raises two basic questions: (1) Whether the salaries of the defendant as administrator of Ladd Memorial Hospital and as coroner of Polk county are to be considered a part of the partnership income, and (2) what is the proper method to reduce the book value of the accounts receivable to reflect their collectibility? The defendant contends a partner, unless prohibited by the partnership contract, may engage in an enterprise on his own behalf which is not connected with or does not compete with the business of the partnership. It is contended the defendant’s services as administrator…