Kessler v. Antinora Case Brief Summary | Law Case Explained

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Kessler v. Antinora | 653 A.2d 579 (1995)

Adventurers enter into partnerships expecting to make a profit. So, partnership agreements usually lay out how proceeds and profits will be distributed. But sometimes, partnerships don’t make profits. And because no one likes to think about losing money, sometimes partnership agreements don’t talk about how to allocate losses. What happens then? The appellate court in Kessler versus Antinora faced just such a situation.

Robert Kessler and Richard Antinora entered into a partnership agreement to build and sell a house. Kessler was to provide the capital investment, and Antinora was to be the general contractor. The agreement contemplated that after the house was built and sold, Kessler would be reimbursed all the money he invested, plus interest and any fees paid on the project. Thereafter, the remaining net profits would be divided 60 percent to Kessler and 40 percent to Antinora. The agreement contained no other compensation for Antinora, and it didn’t address losses.

The house took three years and nearly $499,000 to build but sold for only $420,000. Kessler was repaid all but $79,000 of his investment. Antinora received nothing.

Kessler claimed losses of $79,000 plus approximately $85,000 in interest, for a total loss of about $164,000. Kessler sued Antinora for 40 percent of his losses, or a little more than $65,000. The trial court granted summary judgment to Kessler. Antinora appealed to the New Jersey Superior Court’s Appellate Division.

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