Anderson v. Wadena Silo Co.

Todd, Justice.

Frances Keating (deceased) was the owner of a 50-percent interest in Wadena Silo Company. The surviving partners sought to purchase deceased’s interest in the partnership, offering the administrators of the Keating estate the book value of her partnership account. The administrators rejected the offer and commenced this action for equitable accounting, or in the alternative, for dissolution of the partnership. The lower court interpreted the partnership agreement as requiring the selling price of deceased’s interest to be the book value of her interest in the partnership. We…