Mading v. Mcphaden

This suit was brought to recover $12,500 from two copartners. The complaint alleged that in August, 1953, plaintiff purchased a certain building in Seattle; that one of the defendant partners, Robert D. McPhaden, acted as plaintiffs agent in arranging the purchase of the property and made a secret profit of $5,000; and that the partnership had loaned plaintiff $60,000, for which they charged him a $7,500 "premium" in addition to interest at the rate of six per cent. The prayer asked judgment against both partners, and their respective marital communities, in the full amount of $12,500, representing the alleged secret profit and the "premium" on the loan. The case was tried to the court, which entered judgment of dismissal at the conclusion of the evidence. On appeal, plaintiff has abandoned his claim to all