[Download] "Collins v. Merrick" by Supreme Court of Kansas # Book PDF Kindle ePub Free
eBook details
- Title: Collins v. Merrick
- Author : Supreme Court of Kansas
- Release Date : January 07, 1968
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 53 KB
Description
The opinion of the court was delivered by On October 5, 1957, six enterprising race enthusiasts, five of
whom operated race tracks, formed a partnership under the name of
Grand National Jalopy Promotions, to manage, promote and conduct
annual National Champion Jalopy Races. Four of the partners,
including Jack Merrick and O.L. Douglas, the defendants herein,
each had a 20% interest in the enterprise, while the plaintiff,
James E. (Jim) Collins, together with Verne Hamilton, the only
partner not owning a track, were to hold a 20% interest jointly.
The partners were to contribute whatever capital was required and
were to share profits and bear losses in the proportions
mentioned. The first race was held in Oklahoma City and resulted in a
loss. Thereupon the partners transferred the race to the benign
and friendly atmosphere of the fair city of Hutchinson, where the
event was kindly received and has consistently shown a profit.