Bernstein v. Nemeyer
Connecticut Supreme Court
570 A.2d 164 (1990)
Bernstein (plaintiff) entered as a limited partner into a partnership with Nemeyer (defendant) formed to purchase and renovate two apartment complexes. As part of the partnership agreement, Nemeyer agreed to lend the partnership any difference in the cost of its operating and financing expenses and the amount which its profits could cover. Nemeyer would recover the amount of loans made to the partnership from income or the proceeds of any sale of the complex. Despite good faith efforts and loans by Nemeyer to the partnership of $3,000,000, Nemeyer defaulted. No further loans to the partnership were made. The mortgages on the apartment complexes were foreclosed and Bernstein and Nemeyer lost their entire investment. Bernstein brought suit against Nemeyer in Connecticut state court seeking rescission of the contract and restitution of their original investment. The trial court found that Nemeyer’s breach of the agreement to provide loans to the partnership was not material, and denied recovery to Bernstein. Bernstein appealed. The appellate court found that Nemeyer’s breach of the agreement was material, and then considered Bernstein’s claim for recovery.
Rule of Law
Holding and Reasoning (Peters, C.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 153,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,400 briefs, keyed to 183 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.