Putnam v. Shoaf

NEARN, Judge.

This dispute is over the sale of a partnership interest in the Frog Jump Gin Company.

The Frog Jump Gin had operated for a number of years showing losses in some years and profits in others. In the time immediately preceding February, 1976, it appears that the gin operated at a loss. Originally, the gin was operated as an equal partnership between E. C. Charlton, Louise H. Charlton, Lyle Putnam and Carolyn Putnam. In 1974 Mr. Putnam died and Mrs. Putnam, by agreement, succeeded to her husband’s interest. The gin operated under that control and management until February 19, 1976,…