Adela Kupersmit, Samuel Goldsmith and Sara Goldsmith v. Ricardo M. Weitz

CourtCourt of Appeals of Texas
DecidedNovember 28, 2006
Docket14-05-00167-CV
StatusPublished

This text of Adela Kupersmit, Samuel Goldsmith and Sara Goldsmith v. Ricardo M. Weitz (Adela Kupersmit, Samuel Goldsmith and Sara Goldsmith v. Ricardo M. Weitz) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Adela Kupersmit, Samuel Goldsmith and Sara Goldsmith v. Ricardo M. Weitz, (Tex. Ct. App. 2006).

Opinion

Affirmed and Memorandum Opinion filed November 28, 2006

Affirmed and Memorandum Opinion filed November 28, 2006.

In The

Fourteenth Court of Appeals

____________

NO. 14-05-00167-CV

ADELA KUPERSMITH, SARA GOLDSMIT, AND SAMUEL GOLDSMIT, Appellants

V.

RICARDO M. WEITZ, Appellee

On Appeal from the 190th District Court

Harris County, Texas

Trial Court Cause No. 03-06856

M E M O R A N D U M   O P I N I O N


Certain limited partners appeal the trial court=s judgment enforcing their settlement agreement with the general partner of their partnership.  Under the parties= settlement agreement, the general partner promised to pay the limited partners an agreed amount within a specified period of time, and the limited partners promised to release and dismiss with prejudice their claims against the general partner.  The general partner did not pay or tender payment of the agreed amount within the agreed time period.  The limited partners filed a supplemental petition in the trial court asserting that the general partner breached the settlement agreement and seeking damages and attorney=s fees based on that breach.  At a separate bench trial regarding the alleged breach of the settlement agreement, the parties stipulated that (1) the agreement was enforceable, (2) they were all seeking enforcement of the agreement, (3) neither side was seeking rescission of the agreement, and (4) the trial court could Aenforce [the agreement] if [the trial court] deemed it appropriate.@  The trial court ruled that the settlement agreement was enforceable and still in effect, and it rendered judgment ordering the general partner to pay the limited partners the agreed sum in settlement of the claims against him, ordering the limited partners to execute a full release, and awarding the limited partners attorney=s fees and costs.

The main issue the limited partners present on appeal is whether the trial court erred in enforcing the settlement agreement despite the general partner=s alleged material breach of the settlement agreement.  We conclude that the limited partners did not preserve error because they did not assert this complaint in the trial court.  Even if they had preserved error and even if the general partner did materially breach the settlement agreement, the limited partners would have had only two options: (1) rescind the settlement agreement and proceed with their claims against the general partner or (2) seek to enforce the settlement agreement against the general partner.  The limited partners stipulated that they sought enforcement of the settlement agreement rather than rescission.  The trial court did not err in holding the limited partners to their stipulations.  Accordingly, we affirm the trial court=s judgment.

Factual and Procedural Background


Appellants/plaintiffs Adela Kupersmith, Sara Goldsmit, and Samuel Goldsmit (herein collectively the AInvestors@) were limited partners in a partnership in which appellee/defendant Ricardo Weitz was the general partner.  The Investors sued Weitz asserting claims for breach of fiduciary duty, breach of contract, constructive trust, fraud, negligent  misrepresentation, and conversion (hereinafter collectively the AClaims@).  Following mediation, the parties entered into a one-page written agreement settling all of the Claims (ASettlement Agreement@).  Under this agreement, Weitz promised to pay the Investors $500,000 within twenty-five days, and the Investors promised to release Weitz from the Claims and to dismiss the Claims with prejudice.  Weitz did not pay or tender $500,000 within twenty-five days; rather, he tendered only $325,000.  After the twenty-five day period elapsed, the Investors filed a supplemental petition alleging that Weitz had breached the Settlement Agreement and seeking damages and attorney=s fees allegedly resulting from this breach.  Weitz counterclaimed asserting that the Investors breached the agreement and that he had not breached it because he was required to withhold 35% of the settlement amount under federal tax law.  Weitz sought to enforce the Settlement Agreement by specific performance, and he also sought damages and attorney=s fees resulting from the Investors= alleged breach.

The trial court granted Weitz=s request for a separate trial as to the issues relating to the enforcement of the Settlement Agreement.  The parties agreed that this separate trial would be to the bench.  However, at the beginning of the trial, the Investors= counsel stated that, although he agreed that the separate trial would be nonjury, he wanted to preserve his right to a jury trial as to the Claims.  The trial court stated that, if the Settlement Agreement were not enforceable, then it would allow the Investors to try the Claims to a jury.  Shortly thereafter, counsel for both parties stipulated that (1) the Settlement Agreement was enforceable, (2) they were all seeking enforcement of this agreement, (3) neither side was seeking rescission of the agreement, and (4) the trial court could Aenforce [the Settlement Agreement] if [the trial court] deemed it appropriate.@ 


Following the bench trial, the trial court signed a final judgment stating that the Settlement Agreement was enforceable and still in effect and ordering Weitz to pay the Investors $500,000 in settlement of the Claims.  The judgment also awarded the Investors attorney=s fees and costs.  The judgment further ordered the Investors to execute a full release in accordance with the terms of the Settlement Agreement.  Weitz tendered payment of the judgment and deposited the appropriate amount into the registry of the court.

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Adela Kupersmit, Samuel Goldsmith and Sara Goldsmith v. Ricardo M. Weitz, Counsel Stack Legal Research, https://law.counselstack.com/opinion/adela-kupersmit-samuel-goldsmith-and-sara-goldsmit-texapp-2006.