Densmore Oil Co. v. Densmore
Supreme Court of Pennsylvania
Appeal from Nisi Prius. In Equity: No. 21, to January Term 1866. On the 14th of November 1865 the Densmore Oil Company filed a bill against Amos Densmore, Emmett Densmore, Jonathan Watson, Clinton Roudebush, Adolph Hugel, Elisha D. Whitney, Francis C. Lawrence and Ira Canfield — Lawrence and Emmett Densmore were not served.
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Appeal from Nisi Prius. In Equity: No. 21, to January Term 1866. On the 14th of November 1865 the Densmore Oil Company filed a bill against Amos Densmore, Emmett Densmore, Jonathan Watson, Clinton Roudebush, Adolph Hugel, Elisha D. Whitney, Francis C. Lawrence and Ira Canfield — Lawrence and Emmett Densmore were not served. The bill set out as follows, viz.:— 1. The plaintiffs are a corporation under the act relating to corporations for mechanical, &c., purposes. * * * 3. About March 1864 the defendants, Densmore, Watson, Roudebush and Canfield having acquired title to certain oil lands, &c.,…
1Opinion of the Court
The opinion of the court was delivered,
by Sharswood, J.
— There are two principles applicable to all partnerships or associations for a common purpose of trade or business, which appear to be well settled on reason and authority.
The first is, that any man or number of men, who are the. owners of any kind of property, real of personal, may form a partnership or association with others, and sell that property to the association at any price which may be agreed upon between them, no matter what it may have originally cost, provided there be no fraudulent misrepresentation made by the vendors to…
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