Helen Butler v. KBK Outdoor Advertising, Et Al.

A widow sued to recover the value of her late husband’s interest in a general partnership.  She argued that, in compensating a deceased partner, the assets of the partnership had to be valued at fair market value.  On a motion for summary judgment, the trial court concluded that the partnership agreement provided that, upon a partner’s death, partnership assets would be valued at book value.  After our review of the partnership agreement, we reverse.