Abbott v. Christensen

OAKS, Justice:

This is an appeal and cross-appeal from a decree in the nature of an accounting on termination of a joint venture.

The venture began in 1970 as an arrangement by which rancher Newell Christensen would live on a ranch owned by Dr. Abbott and care for Abbott’s cattle, with each party receiving one-half of the net proceeds from sale of the calves. Thereafter, by mutual consent but with minimum written formalities, the venture expanded gradually with the purchase of about seven additional ranch properties. In the summer of 1974, the parties agreed to terminate their joint venture. In…