Real estate operation not part of partnership

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Appellant/Plaintiff Samuel Gates appeals the trial court’s judgment in favor of Appellee/Defendant George Houston III following Gates’s declaratory judgment action against Houston. Upon appeal, Gates challenges the trial court’s judgment by claiming that the uncontroverted evidence compels the conclusion that Houston’s real estate operation was part of his AAA Roofing partnership with Gates.

(slip op. at 7):  The judgment of the trial court is affirmed.

Key Analysis
(slip op. at 6, 7):  Gates point to no evidence demonstrating that Houston’s contributions to AAA Roofing cannot be construed as payment for its work . . . Gates’s share in the profits was in payment for his work in overseeing the properties and collecting the rents . . . The properties at issue were purchased exclusively by Houston without any contribution—either through AAA Roofing or otherwise—by Gates. To the extent that Gates and AAA Roofing contributed labor and other work toward these properties, these do not result in forfeiture because both Gates and AAA Roofing received compensation for such work by Houston.

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Bose McKinney & Evans LLP is a business law firm, headquartered in Indianapolis, Indiana, serving both publicly held and privately held businesses, governmental entities and high-growth industries. Our clients include Fortune 100 companies, international manufacturers, national and regional financial institutions, agribusinesses, sports teams, university-incubated start-ups, media, utilities, cities and schools, to name a few. We strive to build strong relationships with our clients as key business advisors, to exceed expectations in the quality of our work, to be knowledgeable about our clients’ businesses and sectors, to be responsive to service needs and to continually seek to improve the delivery of client services. Our ultimate focus is on our clients.
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