Creel v. Lilly

After partner Joseph Creel died, leaving his widow Anne (plaintiff) demanding termination of the partnership since the partnership agreement said nothing about continuation after death, the surviving partners, Lilly and Altizer (defendants), had the business appraised and continued operating it under a new name, Good Ole Boys Racing, rather than liquidating its assets. Anne Creel sued for an accounting and a declaration that the surviving partners couldn't continue the business over her objection; the trial court found they only had to pay her estate its proportional value share, not liquidate the assets, and the intermediate appellate court affirmed.