Fischer v. Fischer

Richard Fischer formed a real-estate partnership with his son Todd (defendant) to purchase, lease, and sell a specific Kentucky property, later amending the agreement to require the surviving partner to buy out a deceased partner's interest for $50,000 over five years (the buy-sell provision). After learning he was terminally ill, Richard had his attorney send Todd a letter purporting to dissolve the partnership because he found the buy-sell provision financially unfair, then executed a new will leaving his estate to his second wife, Jacquelyn (plaintiff). After Richard died, Jacquelyn sued individually and as executrix; Todd sought summary judgment to enforce the buy-sell provision, arguing the partnership was still in place when Richard died despite his letter. The trial court agreed with Todd, but the court of appeals reversed, holding Richard's letter had already dissolved the partnership and extinguished the buy-sell provision.