PARTNERSHIPS - Formation - Carrying on business in common with a view to profit

Law360 Canada (August 29, 2024, 2:44 PM EDT) -- Claim by plaintiffs for a declaration that the parties were engaged in a partnership. The parties brought summary judgment motions to exercise their rights over a small medical office building. The corporate plaintiff, Nutrition Guidance Services Inc. (NGSI), and the defendants held ownership interests as tenants in common. The plaintiffs sought to characterize the building as the asset of a partnership. They hoped the Court would require the defendants to sell NGSI their share for an appraised value. The defendants denied the parties were ever partners and sought the sale of the property. The building, as an asset, almost aways ran at a loss. The owners funded the operating deficit as required, until the defendant Martin moved his practice out. The defendant Martin has not paid any of the requested share of expenses since his departure. The plaintiffs obtained an appraisal of the property for $2,000,000. The defendants believed the property was worth much more than the plaintiffs' appraisal. The issue was whether the parties operated the building in partnership....
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