From our private database of 12,700+ case briefs...
B & B Equipment Co. v. Bowen
Missouri Court of Appeals
581 S.W.2d 80 (1979)
Three partners, Braymen, Jacques, and Hughes, owned B & B Equipment Co. (BB) (plaintiff). Braymen wanted to retire so Jacques and Hughes sought out a partner to replace him. Jacques and Hughes entered into an agreement with Bowen (defendant) to replace Braymen. However, Bowen did not have the necessary $15,000 to buy Braymen’s 100 shares of stock. Therefore, BB bought the stock from Braymen on behalf of Bowen, for which Bowen gave BB $2,500 and a promissory note for $12,500. Bowen and the other partners agreed that he would be entitled to all dividends on the 100 shares, but that he would turn over the dividends until the note was paid. Bowen’s duties under the agreement were to take over all corporate recordkeeping and bookkeeping and to do anything else that needed to be done. After time, Bowen’s performance became unsatisfactory to the other partners. Jacques and Hughes informed Bowen that he was discharged. Bowen informed BB’s attorney that he would surrender all of his interest in the corporation for a particular sum. BB’s attorney responded by stating the agreement had been rescinded and repaid the original $2,500 and all additional sums that Bowen had paid toward the stock purchase. Bowen responded and the parties came to an impasse. BB filed suit seeking declaratory judgment. Bowen filed a counterclaim for declaratory judgment. The trial court declared that BB had the right to rescind the contract. Bowen appealed to the Missouri Court of Appeals.
Rule of Law
Holding and Reasoning (Wasserstrom, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 120,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 12,700 briefs, keyed to 172 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.