Gum v. Schaefer

OPINION

Gary and Dorothy Gum, appellants, sued Richard Schaefer, alleging breach of contract, breach of fiduciary duty and fraud. It is undisputed that Gary Gum and Rich ard Schaefer were equal partners in a partnership known as Spring Creek Land and Gravel and that, because of Gum’s financial and marital problems, Schaefer purchased Gum’s interest in the partnership. 1 The terms of the purchase were set forth in a written agreement on August 6, 1982. Eight months later, Gum attempted to repurchase his partnership interest from Schaefer, alleging that the parties had, in conjunction with their…