Warnick v. Warnick
Wyoming Supreme Court
133 P.3d 997 (2006)
- Written by Haley Gintis, JD
Facts
Randall Warnick (plaintiff) was a partner at Warnick Ranches (defendant), until he dissociated from the partnership. Upon Warnick’s dissociation, the district court was tasked with determining the amount that Warnick Ranches owed to Warnick, i.e., the buyout price. The district court, pursuant to the Revised Uniform Partnership Act (RUPA) § 701, evaluated the liquidation value of Warnick Ranches’ assets. Warnick Ranches requested to introduce expert testimony from an appraiser that $50,000 should be deducted from the district court’s estimated evaluation because the estimated sales expense of liquidating the assets would be $50,000. The district court denied the request on the ground that because Warnick Ranches was not actually being liquidated, the $50,000 deduction was hypothetical and too speculative. Warnick Ranches appealed.
Rule of Law
Issue
Holding and Reasoning (Burke, J.)
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