Ariana
Ariana v. Parker
Opinion
Opinion
Kingsley, J.
is an action for dissolution and an accounting of a limited partnership. Plaintiffs filed a partial appeal from the judgment in their favor entered in the court below on June 5, 1963, contending that the trial court did not give them full relief.
Parker Engineering Company, a limited partnership, was formed on September 28, 1943. Dr. Ariana, the limited partner, owned a 20 percent interest; defendant Willard Parker, a general partner, owned a 55 percent interest; Julian Parker, Willard Parker’s brother, was also a general partner and owned a 25 percent interest. Parker Engineering Company was a business concerned with the application of bituminous products, commonly known as coal tar enamels, to tanks and pipe lines for the purpose of preventing corrosion. The limited partnership agreement did not require the defendants to give their full time to partnership business.
On September 22, 1945, Dr. Ariana made a record assignment to his parents, Salvatore and Camela Ariano, but he retained the beneficial interest.
In July 1952, the general partner, Willard and Julian Parker, along with others, formed Parker Brothers, Inc., a corporation, which was concerned with applying plastic…