California, United States of America
The following excerpt is from Aman v. Batt, 205 Cal.App.2d 180, 23 Cal.Rptr. 34 (Cal. App. 1962):
Defendants assert that a joint venture existed between the three parties which could only be terminated by an action for dissolution and an accounting. It is true that joint adventurers cannot sue one another at law to recover damages for breach of the joint venture agreement; their remedy is by suit in equity for dissolution and an accounting and settlement of the affairs of the joint adventure. (Cunningham v. DeMordaigle, 82 Cal.App.2d 620, 621, 186 P.2d 423.)
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.