Norris v. Heyward

Moore, Justice:

This is an appeal from the master’s order granting respondents a continuing judgment and dismissing appellant’s counterclaim. We reverse and remand.

■ FACTS

In December 1985 appellant Albert R. Heyward and respondents entered into a partnership agreement to purchase a mini-storage facility in Panama City, Florida. Heyward had a 50.4% interest in the partnership and respondents each had a 12.4% interest. These interests were later amended so that Heyward possessed 40% and each respondent 15%.

The mini-storage facility began losing money in 1986. In 1987, with the facility…