Gibson v. Gibson Family Ltd. Partnership
South Dakota Supreme Court
877 N.W.2d 597 (2016)
- Written by Sean Carroll, JD
Facts
Delores Gibson (defendant) served as the general partner in the Gibson Family Limited Partnership (the partnership) (defendant). Delores’s sons, Michael Gibson (plaintiff) and Greg Gibson, were the partnership’s limited partners. Michael sued Delores and the partnership, claiming that Delores breached her fiduciary duties to the partnership, and seeking dissociation from the partnership. The partnership agreement did not permit limited partners to dissociate from the partnership. The circuit court denied Michael’s request for dissociation. Michael appealed.
Rule of Law
Issue
Holding and Reasoning (Zinter, J.)
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