In re Marriage of Wright

536 N.E.2d 700, 180 Ill. App. 3d 911, 129 Ill. Dec. 650, 1986 Ill. App. LEXIS 3390
CourtAppellate Court of Illinois
DecidedJuly 7, 1986
DocketNo. 1—83—2791
StatusPublished
Cited by1 cases

This text of 536 N.E.2d 700 (In re Marriage of Wright) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In re Marriage of Wright, 536 N.E.2d 700, 180 Ill. App. 3d 911, 129 Ill. Dec. 650, 1986 Ill. App. LEXIS 3390 (Ill. Ct. App. 1986).

Opinion

JUSTICE BUCKLEY

delivered the opinion of the court:

On July 25, 1983, the trial court entered a judgment dissolving the marriage of petitioner Andree Wright (Andree) and respondent Orin Marshall Wright (Marshall). Respondent appeals the court’s determination as to property division, maintenance and attorney fees. Petitioner cross-appeals as to these same issues. For the following reasons, we affirm.

The parties were married on August 21, 1977. It was Marshall’s third marriage and Andree’s first. At the time of their marriage, Marshall was 34 years old and a commodities broker. Andree was 31 years old and a professional hairdresser and beautician. In April 1981, after approximately 3^2 years of marriage, Andree filed a petition to dissolve the marriage. The parties had no children.

Trial of this case commenced in February 1983 on the issues of property division and maintenance. The major property dispute concerned a seat on the International Monetary Market (IMM seat). The IMM is a division of the Chicago Mercantile Exchange (CME) and is one of the major commodities markets in Chicago. Marshall maintained at trial that the IMM seat was his separate, nonmarital property. Alternatively, he urged that if the IMM seat were marital property, Andree should be required to share not only in the value of the asset, but also in the contingent liability (a pending lawsuit) relating directly to the IMM seat.

The facts pertaining to the acquisition of the IMM seat are as follows. Prior to the parties’ marriage, Marshall worked as a registered representative for various commodities firms in Chicago. Sometime in 1977, before their marriage, a friend of Andree’s introduced Marshall to an individual named Bernard Mirochnick. In May or June of 1977-more than two months before the marriage — Marshall and Mirochnick agreed to go into the commodities business together. They set up the MW Trading Company1 and on July 14, 1977, they purchased the seat on the IMM. Mirochnick took out a loan at the Des Plaines National Bank to finance the purchase of the seat; MW Trading Company was obligated to make the monthly payments on the note.

Marshall and Mirochnick agreed in July of 1977 that MW Trading Company would own the seat on the IMM and that Mirochnick would own 100% of the stock of MW Trading Company. They were not informed, however, that the IMM would not permit either Mirochnick or the corporation to own the seat. As a result, on July 22, 1977, the seat was formally placed in Marshall’s name as nominee for the MW Trading Company.

At the same time the seat was placed in Marshall’s name, Marshall and Mirochnick agreed that Marshall would have an option to purchase MW Trading Company’s stock from Mirochnick whenever Marshall so desired. This option was orally agreed to prior to the August 21, 1977, wedding. On October 3, 1977, the oral option was incorporated into a written option agreement between Marshall and Mirochnick.

In January 1978, Marshall executed his right under the option to purchase the stock of MW Trading Company from Mirochnick. Under the terms of the option agreement, Marshall had two alternatives: he could pay Mirochnick 10% a month for 10 months, or he could make a lump-sum payment. Marshall made 10% payments on January 15, 1978, and March 15, 1978, and then elected to pay the balance in one lump-sum payment. To finance the first two 10% payments, Marshall borrowed money from Andree’s brother, Marc Benaim.2 To finance the final payment, money was borrowed from the Bank of Commerce and Industry in Chicago. Benaim, Andree and Marshall each signed the note on the loan.

At the time Marshall borrowed the money from Benaim, they had conversations about entering into a partnership together. Marshall maintained that no partnership agreement was ever consummated. Andree and Marc Benaim disagreed.

Andree testified that Marshall and her brother agreed to a partnership. She stated their agreement provided that in the event of a marital breakdown, Benaim would own 50% of the stock in the company, Marshall would own 25% and that she would own the remaining 25%.

Benaim maintained that an oral partnership agreement was reached and that Marshall promised to give 50% of the seat and the MW Trading Company stock to Benaim in exchange for Benaim’s loan and his signature as guarantor on the bank loan. In addition, Benaim alleged that he is entitled to 50% of all profits made by MW Trading Company. In May 1980, Benaim sued Marshall Wright in the circuit court of Cook County to enforce the alleged partnership agreement. (Marc Benaim v. Marshall Wright, No. 80 — CH—3476.) It was stipulated at the outset of the dissolution proceedings that Benaim was seeking 50% of the value of the IMM seat. The suit was pending at the time the trial court entered its judgment of dissolution.

Evidence was also presented at trial as to the parties’ income. The parties’ joint tax returns from 1977 to 1981 show an adjusted gross income of $15,169 in 1977; $19,699 in 1978; $15,391 in 19793; $99,647 in 1980; and $112,134 in 1981. The income was earned primarily by Marshall.

Andree was trained as a beautician in Paris, France, and was licensed in Illinois. She testified that prior to the parties’ marriage in August 1977, she worked as a hairdresser and beautician. From 1973 to 1976, she earned $300 to $500 per week while working for her brother, a well-known hairdresser. She was later employed part-time as a hairdresser at a Clark Street salon, earning $40 to $50 per week. She continued working at the salon until she was fired several months after her marriage. She did not find another job and remained unemployed during 1978. In 1979, she began working part time out of her home, earning $75 per week. Following the parties’ separation in April 1981, Andree continued to work out of her home. She testified she earned approximately $300 per month, but also acknowledged that she did not file any income tax returns for 1981 or 1982.

Andree stated that she cannot work with her brother anymore because they do not get along. She further testified that while she is licensed to cut hair in Illinois, her brother is so well known in the industry that it is very difficult to get a job at a salon in the Chicago area because prospective employers fear that she will build up her own clientele, leave them and take her clientele over to her brother.

Andree testified about the lifestyle she and Marshall enjoyed upon the improvement of their income. They went to California several times a year, spent three weeks in Europe, and took vacations to Mexico and the Caymen Islands. Andree estimated she spent $500 to $1,000 per month on clothes, $150 per week for shoes, $224 per week for cosmetics and manicures and facials, and $87 per week for handbags.

During most of their marriage, the parties lived in a one-bedroom apartment they rented at McClurg Court in Chicago for approximately $675 per month. Shortly before their separation, they rented a second adjoining one-bedroom apartment, paying a total rent of $1,452. The court had entered a temporary support order in 1981 ordering Marshall to pay Andree that rent plus $400 per month. In April 1983, Marshall was ordered to pay Andree temporary maintenance of $2,500 per month, retroactive to December 1,1982.

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Related

In Re Marriage of Carr
582 N.E.2d 752 (Appellate Court of Illinois, 1991)

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Bluebook (online)
536 N.E.2d 700, 180 Ill. App. 3d 911, 129 Ill. Dec. 650, 1986 Ill. App. LEXIS 3390, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-marriage-of-wright-illappct-1986.