Anderson

This is an appeal from a judgment of the district court for the Territory of Alaska granting dissolution of a partnership and declaring void a written contract for the sale of appellants’ one-half interest in the partnership to appellee, the co-partner. For convenience we shall hereinafter refer to appellee as the plaintiff, or Anderson, and to appellants as the defendants, or the Aitchisons.

The facts necessary for a determination of the major issue are neither complicated nor highly disputed, according to the record. About June 13, 1947 plaintiff Anderson purchased a one-half interest in The Value Shop and Liquor Store operating in Fairbanks, Alaska. The other one-half interest was owned jointly by the defendants, Mr. and Mrs. Aitchison. Shortly thereafter the parties entered into an oral contract of partnership whereby profits and losses were to be shared equally by plaintiff and defendants. The Aitchisons were to devote their entire time to management of the business and were to receive a combined salary of $500 per month, to be deducted before computing profits. No term for this partnership was agreed upon.

The trial judge found, and there is ample evidence in the record to…