Opinion ID: 1907123
Heading Depth: 2
Heading Rank: 2

Heading: Was Ready entitled to additional money for furniture, fixtures, and equipment and for the May and Company merger?

Text: ¶ 19. The trial court found that Koury did not misrepresent the value of furniture and fixtures. Furthermore, the trial court did not award Ready any money from the May and Company merger. Whenever there is substantial evidence in the record to support the chancellor's findings of fact, those findings must be affirmed. In re Conservatorship of Bardwell, 849 So.2d 1240, 1245 (Miss.2003). This Court finds substantial evidence to support the chancellor's finding that Koury did not misrepresent the value of the furniture and fixtures. This Court finds substantial evidence in support of the trial court's decision not to award Ready any damages for the May and Company merger. ¶ 20. Ready was paid $23,873 for the furniture, fixtures, and equipment which was derived from appraisals that were used in an earlier dispute between former partners of KRB. In the merger with May and Company, the furniture, fixtures, and equipment were valued using the tax assessors' value which was $97,429. This Court finds no fraud with respect to the appraisal method and value used to determine how much Ready would be paid for the furniture and fixtures. ¶ 21. Both Ready and his counsel knew that May & Company was paying Koury the assessed value for the furniture and fixtures before Ready signed the dissolution agreement. It was a subject of negotiations between the parties. Ready's attorney testified that he knew that what Koury had agreed to pay Ready was not the assessed value. Ready also knew of the plans to merge with May and Company, as he was presented with an agreement of intent for the merger on January 18, 1991. As stated earlier, without damages or injury, there can be no fraud. Mabus, 884 So.2d at 762. Furthermore, the merger did not take place until one day after Ready retired, and per the partnership agreement, Ready was only entitled to his interest in KRB until the day he retired. This Court can not find evidence to support a finding of fraud concerning the valuation of furniture, fixtures, and equipment or the merger with May and Company.