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BYRD v. SMYTH

No. 6878.

590 S.W.2d 772 (1979)

Joe B. BYRD, Appellant, v. Lewis Miller SMYTH, III, et al., Appellees.

Court of Civil Appeals of Texas, El Paso.

November 7, 1979.

Attorney(s) appearing for the Case

Sellers & Berg, P. C., Larry R. Jones, George V. Berg, Jr., Michael G. Tapp, Houston, for appellant.

Clemens, Spencer, Welmaker & Finck, F. Nolan Welmaker, George H. Spencer, Jr., San Antonio, for appellees.

OPINION

WARD, Justice.

The dispute in this case arose when a joint venture sold its assets and made a distribution of shares. The issue on this appeal is the meaning to be given to a contract when it is stated that one member's interest would be considered as "carried interest." The trial Court, without the aid of a jury, determined that the one owning the carried interest, although not having had to advance certain expenses of the venture during its existence...

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