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Business Organizations Keyed to Chasalow, 3rd Ed.
Bullock v. State, Department of Transportation
Citation:
966 P.2d 1215 (1998)Facts
Richard Bullock and the individual defendants were partners who owned land in Provo Canyon as their sole partnership asset. In October 1991, Bullock’s partners negotiated a contract to sell the property to UDOT. Bullock learned of this contract before the sale was finalized and opposed it as being below market value. In January 1992, Bullock informed UDOT that he believed the sale would be invalid without all partners’ consent. In March 1992, the other partners deeded the property to UDOT without Bullock’s signature. In September 1992, the partners sent Bullock a check for $67,198.43 as his share of the proceeds, which he endorsed and cashed. Bullock took no further action until March 1993, when he served notice of suit against the State. He later filed suit in federal court in May 1994, offering to return his share of the proceeds. After dismissal of the federal suit, he filed in state court in March 1996, again tendering his share of the proceeds.
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