LLC DISSOCIATION: $2,420,000 compensatory damages verdict in favor of farm/ranch LLC and against departing members affirmed, but $80,000 punitives verdict reversed as action arose from Operating Agreement… 8-year contract statute properly applied in “twilight zone of contract and tort law”… dissociation date properly fixed at 2/2/18… departing members’ 2 shares properly valued at $434,000 each with 7.5% interest accruing from 2/2/18… Laird affirmed, reversed. [Read more…]
Water, co-equal appropriators, percent v. flow rate
WATER: Decree involving co-equal appropriators properly enforced by District Court in percent shares rather than flow rates during shortages… attorney fees properly denied for inability to ascertain a prevailing party… Jones affirmed. [Read more…]
Ranch buy-sell breached per jury, judicially rescinded
BUY-SELL of elderly brothers’ ranch breached by buyers based on jury verdict, Gift Deed void based on jury finding of undue influence… buy-sell judicially rescinded, title to ranch quieted in favor of brothers, mortgage taken by buyers without payment to sellers must be released by buyers… $150,000 jury award vacated since Court imposed judicial recision… Gilbert. [Read more…]
Natural streambed, perennial flow absent mining
NATURAL STREAMBED: Mid-section of stream that would perennially flow absent human manipulation (mining) properly classified as “natural, perennial-flowing” subject to Streambed Act jurisdiction… McMahon affirmed. [Read more…]