X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
DECISIONS n BUSINESS LAW there is no distinct commercial business entity called a “joint enterprise,” the Michigan Supreme Court ruled on April 8, reversing the state Court of Appeals’ recognition of such an entity. First Public Corp. v. Parfet, No. 119204. Plaintiff First Public Corp. and its principal, Lou Beer, filed suit alleging various breaches of fiduciary duty by Caledonia Group and other defendants. The trial court found that First Public and Caledonia were either a partnership or a joint venture. But, based on a memo produced by Beer, the relationship had ended. Affirming, the Court of Appeals proposed recognizing a new commercial business entity called a “joint enterprise,” that was terminated by the Beer memo. While it upheld the trial court’s disposition, the high court vacated that portion of the appeals court ruling that discussed “joint enterprise.” It noted that the appeals court had relied on a noncommercial workers’ compensation case, and added that Michigan case law has never recognized joint enterprises for commercial entities.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.