This section contains the nature of the case and procedural background.

Bunnett (P) and Smallwood (D) became partners in the business of buying and selling fertilizer, feed supplements, and hay. The company was incorporated with each party owning 50%. In August 1984, D resigned and started his own company to compete with his own corporation. D was accused by P of using his former status to gain credit for his new company. P then sued D. D, and P then decided to settle their problems in an oral agreement. P received D's stock, and P dropped the lawsuit. Other suits were filed by P and D claimed that he had a release from liability for any and all claims of any kind that P had against D. The trial court found for D and awarded him $30,000 for attorney fees and costs to defend the new lawsuits. P appealed.

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