Bettis v. Leavitt

Hill, Justice.

This action arises out of a limited partnership formed in 1967. Defendant Charles Bettis appeals from a judgment of the trial court approving an auditor’s report, and appointing a receiver to sell the assets of the partnership and to distribute the proceeds of the sale to plaintiff John Leavitt and two intervenors.

The partnership consisted of three limited partners and two general partners. The partnership agreement provided that the three limited partners were each to have a 5% interest in the partnership for their cash contribution. The two general partners contributed land…