Mitchell v. . Reed
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department affirming a judgment in favor of defendant, entered upon decision of the court at Special Term.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department affirming a judgment in favor of defendant, entered upon decision of the court at Special Term. (Reported below, 61 Barb., 310.) This action was brought to have certain leases, obtained by the defendant during the existence of a copartnership between him and plaintiff, for terms to commence at its termination, of premises leased and occupied by the firm; declared to have been taken for the partnership, and to have it adjudged that the defendant held them as trustee for the partnership. The facts…
1Opinion of the Court
[EDITORS' NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.] The relation of partners with each other is one of trust and confidence. Each is the general agent of the firm, and is bound to act in entire good faith to the other. The functions, rights and duties of partners in a great measure comprehend those both of trustees and agents, and the general rules of law applicable to such characters are applicable to them. Neither partner can, in the business and affairs of the firm, clandestinely stipulate for a private…
2Cases cited3 opinions
- Phyfe v. Wardell & WoolleyNew York Court of Chancery · 1835
- Terwilliger v. . BrownNew York Court of Appeals · 1870
- Struthers v. . PearceNew York Court of Appeals · 1873
3Cited by87 opinions
- Meinhard v. SalmonNew York Court of Appeals · 1928
- Kimberly v. ArmsSupreme Court of the United States · 1889
- Leff v. GunterCalifornia Supreme Court · 1983
- Robinson v. . JewettNew York Court of Appeals · 1889
- McCourt v. Singers-BiggerCourt of Appeals for the Eighth Circuit · 1906
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