Spalding v. Wilson & Muir
Court of Appeals of Kentucky
Case 106 — EQUITY APPEAL FROM NELSON CIRCUIT COURT. 1. That the land was purchased with partnership funds is proved by both of the parties, and there is nothing to contradict it. 2. If partnership .capital be invested in land for the benefit of the firm, oven though it may be a joint-tenancy at law, yet a court of equity will hold it a tenancy in common, and forming a part of the funds ¡of the partnership.
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Case 106 — EQUITY APPEAL FROM NELSON CIRCUIT COURT. 1. That the land was purchased with partnership funds is proved by both of the parties, and there is nothing to contradict it. 2. If partnership .capital be invested in land for the benefit of the firm, oven though it may be a joint-tenancy at law, yet a court of equity will hold it a tenancy in common, and forming a part of the funds ¡of the partnership. (3 Kent’s Com., 37; Parsons on Part., 363; ■Cornwall v. Cornwall, 6 Bush, 359; Bank of Louisville v. Hall, 8 Bush, 678; Adams’ Eq., 35; Story’s Part., 361 ; 5 Bush, 100; Wilson ■v. Soper,…
1Opinion of the Court
-JUDGE PRYOR
delivebed the opinion op the couet.
This controversy is between firm and individual creditors as to the distribution of assets in the hands of an assignee. 'S. P. and J.. M. Lancaster were engaged as partners in ■operating a distillery in the county of Nelson, and in the purchase of lands adjacent thereto, for the purposes of producing grain, raising cattle, &c., for the purposes of the partnership. . They purchased one tract, containing 6oo acres, Lnown as the Nichols farm, and a smaller tract,, containing 43 x/i acres, of one Flagherty. The land was purchased with .partnership…
2Cited by6 opinions
- Garth v. Davis & JohnsonCourt of Appeals of Kentucky · 1905
- Hill v. Cornwall & Bro.'s AssigneeCourt of Appeals of Kentucky · 1894
- Cain's Administrator v. HubbleCourt of Appeals of Kentucky · 1919
- Ratcliffe v. MasonCourt of Appeals of Kentucky · 1891
- Young v. StevensonSupreme Court of Arkansas · 1905
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