Seligson v. Whitney

AUGUSTUS N. HAND, Circuit Judge.

Ón October 30, 1934, Richard P. Worrall filed a voluntary petition in bankrupt*89cy and on'November 24, 1934, the appellant, Seligscn, became trustee. On January 19, 1934, Worrall entered into an agreement of limited partnership with Joseph J. Wood and Henrietta I. Rubin for the conduct of a brokerage business on the New York Stock Exchange in which Worrall and Wood were to be the general partners and Rubin the special partner. Worrall contributed to the capital of the firm his scat on the Stock Exchange, valued at $90,-000, and Rubin $50,000 in cash. Wood…