18 Sept 2006
FRANICH V HARRISON HC AK CIV-2003-404-4131
- Citation
- openlaw-fa38d57e_8b73_4cb5_866b_dc6fafa08e3e.pdf
- Court
- High Court
The 7 June 2002 agreement created a partnership between Franich and Harrison; Harrison breached his fiduciary duties by retaining the $65,000 capital contribution and failing to reimburse $10,000 of syndication proceeds and must account and disgorge those amounts; the Magic Ring Syndicate agreement did not create a partnership but Harrison acted as agent and owed fiduciary duties as manager, improperly taking $50,000 which he must disgorge though he may have an unresolved quantum meruit claim; the 6 August 2003 committee resolutions were invalid for lack of proper constitution and could not l…