L.L. Murgoitio v. J.C. Murgoitio

This case involves the dissolution, winding-up and termination of a family partnership. In the early 1900's, J.H. Murgoitio (James) immigrated to the United States from Spain and began a small dairy operation on a 40-acre tract of land (the Home 40). James had three sons: R.G. (Ray), L.L. (Lou), and J.C. (Joe). At a relatively early age, Ray was seriously injured in a fire. His injuries hampered his activity in future years. As the sons grew up, they gradually accepted more responsibility for the dairy operation, and ultimately a partnership arrangement was formed in which each of the four men had a 25% interest. It was the practice of the partnership to raise feed for the dairy cattle on property it either owned or leased. Over the years, the size of the partnership operation increased. In 1942, James purchased two parcels of land: the Kellogg 80 and Kellogg 40. On November 27, 1944, James executed a deed for the Kellogg 80 naming Lou as grantee and a deed for the Kellogg 40 naming Ray as grantee. On that same date, Lou executed a mortgage to Joe encumbering the Kellogg 80. In 1947, James purchased another parcel of land, the Boyce 40. On November 6, 1947, he executed a deed conveying the Boyce 40 to his three sons.