Harry R. Leeds v. John Levey

U.S. Court of Appeals for the Ninth Circuit
Harry R. Leeds v. John Levey, 443 F.2d 1363 (9th Cir. 1971)
1971 U.S. App. LEXIS 8881

Harry R. Leeds v. John Levey

Opinion

PER CURIAM:

The judgment in this case for $62,-419.06 plus interest in favor of Leeds against Levey is affirmed except .that we conclude that Leeds' judgment against Levey should be for $53,022.93. We arrive at this adjustment because of a credit to be allowed Levey and out of reconstruction of the final computation.

We accept the trial court’s computation of a charge against Levey of $117,-942.01 and a charge of $6,896.12 (money received) against Leeds. (This is not a true partnership case but the same rules of accounting would be applicable here). We find the $117,942.01 figure should be reduced by a $5,000 credit for an amount paid by Levey to Perma Stamp Products. See Godbey & Sons Const. Co. v. Deane (1952) 39 Cal.2d 429, 246 P.2d 946.

So we conclude that the “partners” accounts with the “partnership” were $112,942.01 (drawn by Levey) and $6,-896.12 (drawn by Leeds) or a total of $119,838.13. Thus Leeds is entitled to one-half of the total, which is $59,919.-06, less $6,896.12 already received, leaving a net of $53,022.93 due Leeds by Levey.

With the foregoing adjustments we find no reversible error in the judgment.

Remanded for modification in accordance with the foregoing. Appellant shall have one-half his costs on the appeal.

Reference

Full Case Name
Harry R. LEEDS, Plaintiff-Appellee, v. John LEVEY, Appellant
Status
Published