Lawry v. Palm
Colorado Court of Appeals
192 P.3d 550 (2008)
- Written by Salina Kennedy, JD
Facts
Roy Palm (defendant) owned Frying Pan Anglers, Inc. (FPA), a fly-fishing retailer and licensed outfitter. Palm, in his personal capacity, owned a forest-service permit that allowed FPA to provide commercial guide services on Colorado rivers. Palm agreed to sell FPA to Robyn Lawry (plaintiff), a loyal employee of the business. Pursuant to the parties’ agreement, Palm was to work for FPA as a salaried consultant for a period of 10 years. Palm untruthfully told Lawry that the forest-service permit had to remain in his name and could not be transferred to FPA. Due to their long-term business relationship, Lawry trusted Palm’s representation and did not attempt to have the permit transferred. Instead, the parties agreed that Palm would hold the permit for the sole use and benefit of FPA. One year after selling the business to Lawry, Palm resigned from his consultant job and withdrew permission for FPA to operate under his forest-service permit. Without the permit, FPA was unable to provide guide services, causing its employees to quit. Lawry sued Palm, asserting a constructive trust over the forest-service permit. The trial court imposed a constructive trust over the permit, and Palm appealed.
Rule of Law
Issue
Holding and Reasoning (Graham, J.)
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