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Who Owns Christmas Trees? The Disposition Of Property Used By A Partnership, Daniel S. Kleinberger, Barbara A. Wrigley
Who Owns Christmas Trees? The Disposition Of Property Used By A Partnership, Daniel S. Kleinberger, Barbara A. Wrigley
Faculty Scholarship
Two partners form an enterprise. One (the K partner) supplies the assets used by the enterprise. The other partner (the L partner) supplies only labor. When the enterprise ends, the partners disagree about how to divide the property used in the partnership business. The K partner wants his or her property returned. The L partner wants his or her share of the business assets. If some of the property has appreciated while in partnership use, the dispute will be especially complicated. How do the partners divide the value of the property as originally brought into the business? Who benefits from …