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SMITH v. ELDER

No. 92-948.

849 S.W.2d 513 (1993)

312 Ark. 384

Ted SMITH, Individually and d/b/a Shiloh Ranches, Inc., Appellant, v. John P. ELDER, Margaret G. Elder, Vance N. Elder, Jean E. Elder, N. Dwight Heathman, Jr., Helen Faye Heathman, G. Hugh Smith, Charlotte Smith, Individually and d/b/a Washington Farm Venture, an Arkansas Limited Partnership; John H. Adair, Jerry Hines, Marjorie Hines, James N. Morton, Dorothy Morton, Paul K. Smith, Doris R. Smith, Individually and d/b/a Benton Farm Joint Venture, an Arkansas Limited Partnership; and Mcllroy Bank & Trust Company, Appellees.

Supreme Court of Arkansas.

March 22, 1993.

Attorney(s) appearing for the Case

Wm. Jackson Butt, II, Tim E. Howell, Fayetteville, for appellant.

Joe D. Bell, Little Rock, for appellees.

CORBIN, Justice.

Ted Smith, separate appellant, an attorney, was rendering tax and other personal services for plaintiffs in this case. In the fall of 1976, Mr. Smith approached plaintiffs about investing in a limited partnership he was forming. Mr. Smith advised plaintiffs they would receive tax benefits by entering into the limited partnership. On November 16, 1976, Washington Farm was formed as an Arkansas limited partnership with limited partners, John P. and...

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