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Business Organizations Keyed to Bouchoux
Creely v. Lilly
Citation:729 A.2d 386 (1999)
Joseph Creel began a retail business selling NSACAR racing memorabilia. On September, 1994, Creel entered into a partnership agreement with Arnold Lilly and Roy Altizer to form a general partnership called “Joe’s Racing.” It had been in existence for nine months when Creel died. Mrs. Creel was appointed personal representative of his estate. In accordance with the statute, Joe’s Racing was automatically dissolved upon Creel’s death. To pay debts and efficiently wind up the partnership affairs, Lilly and Altizer requested that Mrs. Creel and the bank release the funds in the partnership account. Their request was refused and this litigation commenced.
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