What Are The Similarities Between Tom Gentry And John Marsh

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This case involved 2 parties, Tom Gentry and John Marsh. These two where in a partnership with each other and they were involved in buying and selling horses. They would buy horses then sell the babies for profit and also just sell the horse as well at many types of auctions. In November 1976 Marsh and Gentry bought these two horses together called Champagne Woman and Excitable lady. In 1978 Marsh and Gentry auctioned off Champagne Lady and Gentry used an anonymous bidder so Marsh wouldn’t find out that he used one to acquire Champagne Lady without telling Marsh. There was a fiduciary relationship between them and he broke it by not telling him because it can alter their profits because of this. When Gentry was supposed to be selling Excitable Lady, he didn’t pay Marsh instead he just didn't tell him. So a couple years down the road, Marsh soon realizes that …show more content…

When the Courts came to a decision, they reversed the decision of the lower courts and it held that Judge O'Hara stated that Gentry was discreet in his transactions, and did not meet the level of good faith. The judge then also stated that under Kentucky Law he was accountable for his actions and accepted business practices don’t have to constitute a waiver because in most cases the law takes precedent. The overall law determined that Gentry denied Marsh the sole right to know what his partner was going to purchase because Marsh stated that If he knew he would have changed his decision and also said he would not have agreed. He also did not act in good faith because he clearly violated his fiduciary duty to his partner. In my opinion I think that he should have been able to buy out his partner with an anonymous bidder because he would be able to get it at a fair market rate that is not skewed because of his

In this essay, the author

  • Explains that tom gentry and john marsh were involved in buying and selling horses. they bought champagne woman and excitable lady together, then auctioned off champagne lady.
  • Opines that gentry should have been able to buy out his partner with an anonymous bidder because he would get it at a fair market rate.
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