Freese v. Smith

This appeal is from a judgment for $5,115.47 and interest, in an accounting suit arising out of a partnership between the litigants, which existed from April 1, 1945, to July 5, 1946.

Both parties were experienced fire insurance adjusters who had been engaged in that work in San Francisco for many years.

On February 17, 1944, they made a contract wherein respondent agreed to assist appellant in his established adjustment business, and appellant agreed to pay him either a sum equal to 20 per cent of the annual net income of the business or 75 per cent of the increase of its annual net profits in…