Dreifuerst v. Dreifuerst
Court of Appeals of Wisconsin
280 N.W.2d 335 (1979)
The Dreifuerst brothers formed a partnership for the purpose of operating two feed mills. The partnership is not governed by a written partnership agreement. All but one of the brothers (plaintiffs) elected to dissolve the partnership, and brought an action for dissolution and wind-up of the partnership after serving the remaining brother (defendant) with notice. The defendant asked the court to permit a sale pursuant to Uniform Partnership Act (UPA) § 38(1), at which the partners could bid on the property, thus allowing the plaintiffs to continue running the business and the defendant’s partnership equity to be satisfied in cash. The trial court denied the defendant’s request and instead divided the partnership assets in kind, granting the physical assets of one of the feed mills to the plaintiffs, and the physical assets of the other feed mill to the defendant. Defendant appeals the trial court’s in-kind division of the partnership’s assets.
Rule of Law
Holding and Reasoning (Brown, P.J.)