lack Letter
BAMaryland Court of Appeals, 1999stubesbozounverifiedsin verificarSkim briefBrief rápido

Creel v. Lilly

729 A.2d 385 (Md. 1999)

A partner dies and his widow demands the business be liquidated

In one lineEn una línea
A partner's death need not force liquidation; the surviving partners may continue the business and pay the estate the value of the partner's interest.La muerte de un socio no obliga a liquidar; los socios sobrevivientes pueden continuar y pagar a la sucesión el valor de la participación.
RuleRegla
Where the partnership agreement or the governing statute permits continuation, the estate of a deceased partner is entitled to the fair value of the partner's interest, not to a forced sale of the assets.
Why this case is herePor qué está aquí este caso
Shows the shift from forced liquidation on a partner's death to continuation with a buyout, the RUPA approach.
Procedural posturePostura procesal
The deceased partner's estate sued the surviving partners for an accounting and liquidation; the trial court valued the estate's share without forcing a sale; Maryland's highest court affirmed.
general partnership

AssignedAsignado: 2026-09-17

Read the public opinionLeer la opinión (texto público). SourceFuente: Skim brief from memory of the public opinion; verify facts and holding against the opinion before citing..