We need not determine whether plaintiff effectively exercised his option since even if he did he would not have automatically become a limited partner. Having made no contribution of capital, plaintiff did not become a partner, and his action for an accounting was therefore properly dismissed (see, Winter v Beale, Lynch & Co.,
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.