Dixon v. Hyde
Dixon v. Hyde
Opinion of the Court
On June 4, 1917, James M. Dixon, W. C. Peeples, and E. A. Hyde entered into a general copartnership under a written agreement. The business to be conducted was that of wholesale and retail dealers in lumber. Dixon furnished the capital and he was to receive 7 per cent, interest on all capital furnished by him in cash, and then the net profits were to be divided, a half to Dixon, one fourth to Peeples, and one fourth to Hyde. The partnership was to commence on May 1, 1917, and continue only so long as it was agreeable to all parties, any one of them to have the right to terminate it upop 24 hours notice. In the event of dissolution Dixon was to have the option of buying the interest of Peeples and Hyde, either or both, at the book value. If he refused to do this, Peeples and Hyde, either or both, would have the same option of purchasing Dixon’s interest. If this value could not be agreed upon, the matter was to be referred to statutory arbitration. Peeples voluntarily withdrew from the partnership in September, 1917. Hyde and Dixon continued the business until February 11, 1918, without any agreement. On
Judgment reversed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.