Gannon v. Baker

OPINION

SAM BASS, Justice.

John P. Gannon appeals from a partial take-nothing summary judgment, and a later bench trial order dismissing Gannon’s remaining claims against John H. Baker, III and J & B Sign Company, based on the premise that Gannon’s sole remedy was the recovery of an amount equal to Gannon’s share of the appraised value of the jointly owned corporate stock.

We affirm in part and reverse and remand in part.

Gannon was a 50 percent owner of a partnership that operated an outdoor sign business, “J & B Sign Company.” In 1976, in an effort to obtain capitalization, the partners, Bill…