Law
Law, 09.12.2020 04:10, alex24gonzales

When the father of Stephen and Chris Nuss died, the two boys, aged 15 and 12 years, began to work the family farm. While the boys were still under the age of majority, their mother, Lois, kept the books Page 727for the farm. As the boys grew older, they took more and more responsibility in running the farm. They also rented and worked additional acres of farmland. They financed these rental agreements on their own, but their mother co-signed for the arrangements. The boys also purchased additional farmland. Again, their mother helped in this purchase by co-signing. When Chris decided to leave farming, Stephen paid him $100,000, and in exchange, Chris signed over the deed to the newly purchased land. Lois was not involved in this transaction. Stephen’s farming business grew. He eventually amassed more than 1,200 acres. He and his wife, Linda, kept their own financial records and maintained their own checking account for the running of the farm. Stephen’s mother was not involved in any of this detail. However, Stephen continued to pay many of the expenses involved on the original farm, where his mother still maintained her residence. Stephen also paid the insurance, maintenance, and repair expenses on all buildings and equipment on the original farm. Because Stephen continued to farm this land, in addition to the land he had subsequently purchased, these payments were always characterized as rent. No other payments went to Stephen’s mother. When Stephen died, Linda, his widow and executor, claimed that a partnership existed and that the farm equipment on the original acreage and original acreage itself belonged to that partnership. Lois argued that no partnership between Stephen and her existed. Is Linda or Lois correct? Did a partnership exist? Explain. [See: In re Estate of Nuss, 646 N. E.2d 504 (OH).]

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When the father of Stephen and Chris Nuss died, the two boys, aged 15 and 12 years, began to work th...

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