Garrett v. Robinson
Supreme Court of Alabama
Appeal from the Chancery Court of Monroe. Heard before the Hon. Jno. A. Poster. The'bill in this cause sought a settlement of partnership accounts between the complainant, Robinson, and Caswell Garrett, late partners equally interested in the operation of a saw and grist-mill in said county; and was filed on 11th June, 1883. The respondent having answered, the chancellor ordered a reference of the matters of account to the register.
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Appeal from the Chancery Court of Monroe. Heard before the Hon. Jno. A. Poster. The'bill in this cause sought a settlement of partnership accounts between the complainant, Robinson, and Caswell Garrett, late partners equally interested in the operation of a saw and grist-mill in said county; and was filed on 11th June, 1883. The respondent having answered, the chancellor ordered a reference of the matters of account to the register. The register, in executing the reference, stated the account “in debtor and creditor form” between'the complainant, Robinson, on the one side and the appellant,…
1Opinion of the CourtStone, C. J.
-Stated as the account was in this case, it was and is impossible to reach correct conclusions, and the whole report should have been set aside, and a re-reference awarded, with instructions. In the settlement of a partnership account which involves items of debit and credit against one, or each of the partners, a simple accounting in which one partner is set down as a creditor, and the other as a debtor, can never lead to correct results. This, for the obvious reason that in the *193partnership dealings, neither credits nor debits constitute a liability from one to the other. They are credits…
2Cases cited1 opinion
- Collins v. OwensSupreme Court of Alabama · 1859
3Cited by4 opinions
- Perry Insurance & Trust Co. v. FosterSupreme Court of Alabama · 1877
- Hunter v. ParkmanSupreme Court of Alabama · 1950
- Carter v. CarterSupreme Court of Alabama · 1945
- Lindsey v. ReevesSupreme Court of Alabama · 1948