Corley v. Ott

MOORE, Justice.

This is an appeal of a final accounting between partners and an award of judgment for breach of a fiduciary duty. We affirm.

FACTS

Appellant Ott held an option to purchase a tract of land known as Lakewood Estates. Without disclosing his option, Ott approached respondent Corley about providing the capital to purchase the land and “making some money on it.” Corley agreed. On March 30,1979, Ott signed a contract to individually purchase Lakewood Estates including 128 lots, a 34.68 acre lot called the “pond tract,” and a water plant, for a purchase price of $171,200. Ott had the…