Snead v. Giles

15 Va. Cir. 342, 1989 Va. Cir. LEXIS 51
CourtCaroline County Circuit Court
DecidedMarch 6, 1989
DocketCase No. 85C-49
StatusPublished

This text of 15 Va. Cir. 342 (Snead v. Giles) is published on Counsel Stack Legal Research, covering Caroline County Circuit Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Snead v. Giles, 15 Va. Cir. 342, 1989 Va. Cir. LEXIS 51 (Va. Super. Ct. 1989).

Opinion

By JUDGE WILLIAM H. LEDBETTER, JR.

This case consists of two parts: one, a suit to partition real estate; the other, an accounting among co-owners of a defunct business venture.

In September, 1982, Snead, Giles, and a third person (Woodson) decided to form an auto salvage business. Giles owned and operated such a business, Bud’s Auto Salvage, in Bowling Green. He was acquainted with Woodson, an Arlington resident who ran an auto removal and hauling business there. After preliminary discussions,, between Giles and Woodson, Woodson brought Snead, a relative, into the picture. The three agreed to purchase land with a building and to form the business venture. Pursuant to their understanding, Giles would provide expertise, transfer assets from his salvage yard to the new business, and operate the venture; Woodson was to "put up some money" and supply autos from time to time from his sources in Northern Virginia; Snead would contribute cash as "an investment." Nothing was reduced to writing, and the agreement among [343]*343them, to say the least, was imprudently vague and incomplete.

They acquired a 2.75-acre parcel of land, improved with a building, on U.S. 301 in Caroline County. The purchase price was $86,000.00. Although bank financing was discussed, it developed that the purchase price was paid with $80,000.00 of Snead’s money and $6,000.00 from Woodson. Woodson gave Snead a promissory note for $22,666.00, and Giles gave Snead a promissory note for $28,666.00. (No payments were ever made on the notes.)

The business, referred to in the litigation as "Hilltop," began operation in November, 1982. Giles ran the business. Woodson contributed cars and trucks until he lost his primary source of supply. He contributed no money to the venture. Snead provided several infusions of cash.

The business ceased in the summer or fall of 1983. Giles returned to his former business, Bud’s Auto Salvage. Snead took possession of the real estate. Woodson lost interest in the whole affair and conveyed his interest in the real estate to Snead in satisfaction of his note.

Snead and Giles agree that they own the real estate as tenants in common, Snead having a two-thirds interest and Giles a one-third interest. They also agree that the property has an appraised value of $106,000.00. Snead has offered to purchase the property for $106,000.00; Giles has "upped the ante" to $109,500.00.

As for the business venture, Snead and Giles claim that Woodson has "abandoned" his interest and that accounts should be settled between the two of them. They disagree in numerous respects as to how the accounts should be settled.

Pleadings

Snead filed a bill of complaint on June 14, 1985, requesting partition of the real estate. Giles answered, and in his prayer, requested a settlement of the "Hilltop" business accounts. The matter was referred to a commissioner in chancery on January 22, 1986.

The commissioner conducted hearings and took evidence on March 27, 1986, April 17, 1986, May 15, 1986, and August [344]*34429, 1986. The record is voluminous. The parties then submitted memoranda.

The commissioner filed her report on December 7, 1988. Both parties filed exceptions to various parts of the report, and the court heard arguments on the exceptions on February 8, 1989.

Settlement of Accounts of the Business Venture

The evidence is clear that Snead, Giles, and Woodson joined together to carry on an auto salvage business for profit. Although they did not commit their agreement to writing, and the terms of their agreement are sketchy, their association was, by definition, a partnership. See Virginia Code § 50-6(1) and § 50-7.

A partnership is defined as two or more persons joining together their money, talents, goods, or labor, or all of them, under an understanding or agreement that there will be a communion of profit and loss among them in carrying on a lawful business. 14A M.J., Partnership, sect. 2. The understanding or agreement may be written or oral, express, or implied, and need not be in any particular form. 14A M.J., Partnership § 7.

Both parties agree that their business association should be classified as a partnership, and the commissioner so held. The commissioner’s ruling on this point, then, is confirmed.

Nothing is more clearly established in partnership law than that partners are fiduciaries inter se, and that each partner, under proper circumstances, has a right to an accounting from all other partners as to partnership affairs.

The settlement of partnership accounts is within the exclusive jurisdiction of equity. 14A M.J., Partnership sect. 61. However, as a general rule, equity will not entertain a bill for an accounting among partners unless a dissolution and winding up are requested, and every partner is made a party. 14A M.J., Partnership, § 62 and § 64. In fact, it is said that equitable intervention is justified in such cases only because the accounting is ancillary to dissolution or to a division of. assets where the firm is already dissolved. Lile, Notes on Equity Jurisprudence, pp. 281-282 (1921).

[345]*345Here, the firm already stands dissolved. The business was terminated more than five and a half years ago. Although no formal dissolution and winding up was conducted, the evidence sufficiently proves a dissolution. See Section 50-3l(l)(a) and (b).

Nevertheless, no affirmative pleading has been filed in this suit alleging a dissolution and requesting a division of net assets. As noted above, this is a partition suit, and the only mention of the assets of the business is contained in the respondent’s answer, a responsive pleading.

More important, one of the partners is not a party to the suit. Snead and Giles seem to ignore Woodson on the theory that he has "abandoned" his interest in the business. Woodson testified as . a witness for Snead and said nothing about abandoning his interest. In fact, he said that everything was "just left in limbo." (Transcript of 4/17/86 hearing pp. 82-94.)

The court is interested in seeing this litigation, which has been in progress for about four years, brought to a speedy conclusion. However, the court will not settle the accounts of the partners until all partners are properly before the court.

Accordingly, Giles should file an appropriate cross-bill, joining Woodson as an additional party, affirmatively requesting a settlement of the accounts of this business venture. After Woodson has had the opportunity to respond, the suit can proceed. If Woodson does not file responsive pleadings or otherwise make an appearance, no further hearings will be necessary and the court will adjudicate the disputed issues and settle the accounts upon the evidence adduced before the commissioner, giving due weight to the factual findings and recommendations in the commissioner’s report. If Woodson responds and wishes to be heard, the matter will not be re-referred to the commissioner; instead, to expedite the case, the court will conduct such ore tenus hearings as may be necessary.

Partition of the Real Estate

Based on the evidence, the commissioner reported that the real estate consists of 2.75 acres on the south side of U.S. 301 in Caroline County, described in Exhibit [346]

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Cite This Page — Counsel Stack

Bluebook (online)
15 Va. Cir. 342, 1989 Va. Cir. LEXIS 51, Counsel Stack Legal Research, https://law.counselstack.com/opinion/snead-v-giles-vacccaroline-1989.