Erica Smith | Bloomberg Law Corrales v. Corrales, No. G043598, 2011 BL 208326 (Cal. Ct. App. Aug. 10, 2011) The California Court of Appeal reversed a ruling on valuation of a partnership following one partner's departure. The court found that the valuation was based on the incorrect premise that the partner's interest would be bought out, and that his departure actually triggered dissolution of the partnership.
Brothers' Partnership Ends After One Starts Competing Business
Buyout Provision Inapplicable; Partner's Departure Triggered Dissolution
Damages from Competing Business to Be Addressed During Winding Up Process
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