About: Meinhard v. Salmon

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Meinhard v. Salmon, 164 N.E. 545 (N.Y. 1928), is a widely cited case in which the New York Court of Appeals held that partners in a business owe fiduciary duties to one another where a business opportunity arises during the course of the partnership. The court holds that the fiduciary duty of communication was breached where a partner in a joint venture failed to inform his co-partner of a profitable opportunity that was offered by a third-party who was ignorant of the partnership. Furthermore, the duty of loyalty was breached where the partner appropriated to himself a benefit arising from his status as a partner without allowing his co-partner an opportunity to compete. This holding relates to the doctrine of corporate opportunity.

Attributes	Values
rdf:type	yago:WikicatWillsAndTrusts geo:SpatialThing yago:Ability105616246 yago:Abstraction100002137 yago:Case107308889 yago:Cognition100023271 yago:Event100029378 yago:Faculty105650329 yago:Happening107283608 yago:PsychologicalFeature100023100 yago:YagoPermanentlyLocatedEntity yago:Volition105652593
rdfs:label	Meinhard v. Salmon (en)
rdfs:comment	Meinhard v. Salmon, 164 N.E. 545 (N.Y. 1928), is a widely cited case in which the New York Court of Appeals held that partners in a business owe fiduciary duties to one another where a business opportunity arises during the course of the partnership. The court holds that the fiduciary duty of communication was breached where a partner in a joint venture failed to inform his co-partner of a profitable opportunity that was offered by a third-party who was ignorant of the partnership. Furthermore, the duty of loyalty was breached where the partner appropriated to himself a benefit arising from his status as a partner without allowing his co-partner an opportunity to compete. This holding relates to the doctrine of corporate opportunity. (en)
geo:lat	40.753838 (xsd:float)
geo:long	-73.981277 (xsd:float)
dcterms:subject	United States trusts case law 1928 in New York (state) Fifth Avenue New York (state) state case law United States corporate case law 1928 in United States case law
Wikipage page ID	5035243 (xsd:integer)
Wikipage revision ID	1097987485 (xsd:integer)
Link from a Wikipage to another Wikipage	United States trusts case law Benjamin Cardozo Elbridge Thomas Gerry New York Supreme Court North Eastern Reporter Joint venture Duty of loyalty LexisNexis 1928 in New York (state) Fifth Avenue Frederick E. Crane Constructive trust Corporate opportunity Manhattan Partnership New York (state) state case law John F. O'Brien (judge) 42nd Street (Manhattan) 500 Fifth Avenue Fifth Avenue Beatty v Guggenheim Exploration Co Reversion (law) A.L.R. Henry Kellogg Irving Lehman United States corporate case law Lease 1928 in United States case law Fiat money English trusts law New York City New York Court of Appeals New York Supreme Court, Appellate Division Casebook William Shankland Andrews Landmark case Walter J. Salmon, Sr. United States corporate law Fiduciary duties Fiduciary relationship Implied covenant of good faith and fair dealing Fiduciary duty Cuthbert Pound US trusts law
Link from a Wikipage to an external page	https://www.nycourts.gov/reporter/archives/meinhard_salmon.htm https://www.courtlistener.com/opinion/3629080/meinhard-v-salmon/
sameAs	Meinhard v. Salmon Meinhard v. Salmon Meinhard v. Salmon
dbp:wikiPageUsesTemplate	dbt:Blockquote dbt:Caselaw_source dbt:Coord dbt:Reflist dbt:Wikisource-inline dbt:Slist_director_duties dbt:Infobox_New_York_COA_case
Dissent	Andrews (en)
JoinDissent	Kellogg, O'Brien (en)
JoinMajority	Pound, Crane, Lehman (en)
Prior	Judgment for plaintiff, New York County Supreme Court; affirmed as modified, 229 N.Y.S. 345 (en)
ArgueDate	0001-12-04 (xsd:gMonthDay)
ArgueYear	1928 (xsd:integer)
case	Meinhard v. Salmon, 249 N.Y. 458, 164 N.E. 545 (en)
citations	249 (xsd:integer)
court	New York Court of Appeals
courtlistener	https://www.courtlistener.com/opinion/3629080/meinhard-v-salmon/
DecideDate	0001-12-31 (xsd:gMonthDay)
DecideYear	1928 (xsd:integer)
fullname	Morton H. Meinhard v. Walter J. Salmon et al. (en)
Holding	Managing partner in a joint venture had a fiduciary duty to inform and allow the investing partner to compete to obtain an opportunity that arose from his status as a partner even though it would vest after the partnership's anticipated termination. New York Supreme Court Appellate Division affirmed as modified. (en)
Litigants	Meinhard v. Salmon (en)
majority	Cardozo (en)
other source	New York Courts (en)
other url	https://www.nycourts.gov/reporter/archives/meinhard_salmon.htm
georss:point	40.753836 -73.981279
has abstract	Meinhard v. Salmon, 164 N.E. 545 (N.Y. 1928), is a widely cited case in which the New York Court of Appeals held that partners in a business owe fiduciary duties to one another where a business opportunity arises during the course of the partnership. The court holds that the fiduciary duty of communication was breached where a partner in a joint venture failed to inform his co-partner of a profitable opportunity that was offered by a third-party who was ignorant of the partnership. Furthermore, the duty of loyalty was breached where the partner appropriated to himself a benefit arising from his status as a partner without allowing his co-partner an opportunity to compete. This holding relates to the doctrine of corporate opportunity. (en)

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