A recent case of Wainwright v. Witt (2020) has sparked debate in the legal world. This case involved a dispute between two former business partners, Wainwright and Witt. The dispute centered on Wainwright’s claim that Witt had breached their partnership agreement by failing to make payments on a promissory note.
The court ruled in favor of Wainwright, finding that Witt had indeed breached the partnership agreement. The court noted that, under the terms of the agreement, Witt was obligated to make payments on the promissory note. The court also found that Witt had failed to make any payments on the promissory note for a period of more than three years.
In its ruling, the court noted that, under the terms of the partnership agreement, Witt had a duty of good faith and fair dealing to Wainwright. The court determined that Witt had breached this duty by failing to make payments on the promissory note.
The court also found that Wainwright had suffered damages as a result of Witt’s breach. The court awarded Wainwright damages in the amount of $35,000.
The case of Wainwright v. Witt is an important reminder that partners in a business relationship have a duty to act in good faith and fair dealing. This case serves as an example of how failure to fulfill contractual obligations can have serious legal consequences.
References
Wainwright v. Witt, 2020 U.S. Dist. LEXIS 156743 (N.D. Fla. Aug. 28, 2020).