Trial court errs by failing to place specific value on business; Goodwill value to be excluded

Business Valuation UpdateVol. 11 No. 3
Legal and Court Case Update
March 2005
1721 Painting and Paper Hanging
238320 Painting and Wall Covering Contractors
marital dissolution/divorce

Goodson v. Goodson
No. 2003-CA-01598-COA
January 11, 2005
US
State Court
Mississippi
Court of Appeals
John Thomas Lamar, Steven Glen Roberts
McClure

Summary

In this marital dissolution case, wife owned Judy's Painting Services, the assets of which were valued at $1,000.

See Also

Goodson v. Goodson

In this marital dissolution case, wife owned Judy's Painting Services. The trial court determined that the business was worth at least $100,000, but failed to place a specific value on the business because wife failed to keep adequate records.