Kessler v. Antinora

653 A.2d 579 (1995)

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Nature of the Case

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Facts

Kessler (P) and Antinora (D) entered into an agreement entitled a Joint Venture Partnership Agreement. The venture was to build and sell a home. P was to provide all the necessary funds to purchase the land and construct the home. D was construct the dwelling and be the general contractor. Upon sale, P was to get paid for all his expenditures plus interest and of the remaining monies left after all third party fees were deducted, 60% of the profits. D was to get 40% of the profits. There were no provisions for losses. The agreement was executed but the real estate market did not cooperate. The house sold for $65,742 less than the cost to build it. P was out of pocket, $78,917 but sued D and claimed a total loss of $164,357. The trial judge found that statutory law partnership governed the agreement and it required each partner to contribute his or her share of the losses. P got a judgment for 40% of his losses against D or $65,742.80. D appealed.