Jones v. Jones
In Jones v. Jones, 29 Ark. App. 133, 777 S.W.2d 873 (1989), the Court refused to accept a thirty-two percent reduction in the value of an accounting firm that was based on the firm losing roughly one-third of its customers if one of its partners was forced to sell his interest.
Additionally, the Court held that there was no evidence that the firm was contemplating selling the one-third interest, and therefore the value of the firm should not be reduced.
The Court also rejected a $ 6,000 "rounding down" of the estimated value. In the Jones decision the Court did not specifically reject applying a "marketability" discount to marital property divisions of businesses, but found that the justification for the discount (based on a buy-sell agreement among the partners and the anticipated loss of business if a partner left) was not appropriate under the facts of that case.