McDonald v. Fenzel

Full title: JOSEPH B. McDONALD, Respondent, v. PETER D. FENZEL et al., Appellants

Court: Appellate Division of the Supreme Court of New York, First Department

Date published: Feb 13, 1996

224 A.D.2d 261 (N.Y. App. Div. 1996)

638 N.Y.S.2d 15

Opinion

February 13, 1996

Appeal from the Supreme Court, New York County (Beverly Cohen, J.).

We agree with the IAS Court that absent a provision in the parties' partnership agreement specifying the method of accounting, whether cash or accrual, to be used upon dissolution of the partnership, the accrual method is to be used ( Jackson v Hunt, Hill Betts, 7 N.Y.2d 180, 183). We do not construe the provisions relied upon by defendants to constitute a direction for an accounting on a cash basis. We have considered defendants' other contentions and find them to be without merit.

Concur — Murphy, P.J., Sullivan, Rubin, Ross and Tom, JJ.