Opinion ID: 2607318
Heading Depth: 3
Heading Rank: 2

Heading: Transfer of the Partnership Interest

Text: Vondra decided to exercise his right to buy out James Carroll's interest in their partnership, and so informed Donna in a letter dated January 8, 1991. On July 9, 1991, Donna moved the superior court to approve the sale of the estate's interest in the partnership for a price of $274,049, payable over five years, and her attorney sent a number of letters to Paula's attorney concerning the sale. Donna obtained an Opinion of Value, according to which the contemplated purchase price for the estate's interest in the partnership was considered a fair one. Paula eventually challenged the adequacy of the Opinion of Value, and Donna thereafter filed a full appraisal of some partnership properties. On March 5, 1992, Paula filed a Motion for Court Order for Appraisal of Partnership Assets together with a supporting memorandum, in which she asserts that Vondra misrepresented the economic health of the corporation to Donna, and that Donna's attorney may have had a conflict of interest. [2] In this memorandum Paula argued that the partnership assets should be subjected to a formal appraisal.