Mason and Phyllis Ledbetter operated a business in Northbrook, Illinois, as a partnership called Ledbetters Nurseries that

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Mason and Phyllis Ledbetter operated a business in Northbrook, Illinois, as a partnership called Ledbetters’ Nurseries that specialized in the sale of garden lilies. The grounds of the nurseries were planted with numerous species of garden lilies, and hundreds of people toured the Ledbetters’ gardens every day. After a tour, Sheila Clark offered to buy the facilities at a “top-notch price.” Mason felt he could not refuse the high offer, and he signed a contract to sell all the facilities, including all flowers and the business name. When Phyllis refused to go along with the contract, Clark sued the Ledbetters’ Nurseries partnership, seeking to obtain specific performance of the sales contract. Decide.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Andersons Business Law and the Legal Environment

ISBN: 978-1133587583

22nd edition

Authors: David P. Twomey, Marianne M. Jennings

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