CORPORATE EAST ASSOCIATES v. MEESTER

No. 88-889.

442 N.W.2d 105 (1989)

CORPORATE EAST ASSOCIATES, Appellant, v. Gerald L. MEESTER, Appellee.

Supreme Court of Iowa.

June 14, 1989.


Attorney(s) appearing for the Case

Robert H. Gallagher, Bettendorf, for appellant.

W. Michael Shinkle, Davenport, for appellee.

Considered by McGIVERIN, C.J., and HARRIS, CARTER, SNELL, and ANDREASEN, JJ.


HARRIS, Justice.

This appeal turns on the nature of an investment in an office building. According to a written contract the enterprise was a general partnership, with the express agreement that the investors could be called upon to pay sums in addition to their initial investments. When the enterprise later failed one of the investors sought to avoid the contractual obligations, asserting the interest he purchased was actually a security under the Iowa uniform securities...

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