Missouri  |  Business Law

Legal Question

Asked on: 12/04/11, 1:04 pm

1. Clyde and Betty Penley were married in 1949. In late 1967, Clyde operated an automotive tire business while Betty owned an interest in a Kentucky Fried Chicken (KFC) franchise. That year, when Betty became ill, she requested that Clyde begin spending additional time at the KFC franchise to ensure its continued operation. Subsequently, Betty agreed that if Clyde would devote full time to the KFC franchise, they would operate the business as a joint enterprise, share equally in the ownership of its assets, and divide its returns equally. Pursuant to this agreement, Clyde terminated his tire business and devoted his full time to the KFC franchise. On December 31, 1979, Betty abandoned Clyde and denied him any rights in the KFC franchise. Clyde sued to enforce the agreement with Betty. Is the agreement enforceable?

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