Close v. Derbyshire

Opinion by

Hirt, J.,

The parties, by agreement- entered into on January 1,1944, formed a partnership under the name of Derby-shire Machine and Tool Company for the manufacture of jet pumps and other appliances on customer specifications. The business was extensive and succe.ss.ful. The firm in 1944 made a net profit of over $43,000 and plaintiff received more than $11,000 as his share of the earnings for the year. This was an established.business when plaintiff became á partner, and over a period of years the defendants as a matter of shop policy had always charged off the cost of small tools…