Beaver's Administrator v. McGrath
Supreme Court of Pennsylvania
Error to the Common Pleas of Franklin county. This was an action of assumpsit by Mary Jane McGrath and Peter Kunldeman, administrators of John Beaver, deceased, against William McGrath and twenty-eight others, as surviving partners of a firm doing business as the Loudon Savings Fund Society.
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Error to the Common Pleas of Franklin county. This was an action of assumpsit by Mary Jane McGrath and Peter Kunldeman, administrators of John Beaver, deceased, against William McGrath and twenty-eight others, as surviving partners of a firm doing business as the Loudon Savings Fund Society. The narr. was in assumpsit, founded upon the following certificates of deposit:— “ No. 442. “ Loudon Savings Fund Society, 1 Loudon, November 27th 1856. / “ Mr. John Beaver has deposited in this office one thousand dollars, and payable to his.order twelve months after date, with interest at the rate of 4J…
1Opinion of the Court
The opinion of the court was delivered, by
Read, J.
Partners are liable jointly at law for the debts and engagements of the firm, but in equity their liability is not only joint but several, except under special circumstances. This liability, as between thdmselves, they can modify and limit by contract, but it is not settled in this state how far they can limit their liability to third persons.
In Hess v. Werts, 4 S. & R. 356, where the suit was oh a promissory note issued by an unincorporated banking institution, romising to pay to bearer on demand one dollar out of their joint funds according…
2Cases cited2 opinions
- Witmer v. SchlatterSupreme Court of Pennsylvania · 1830
- Ridgely v. DobsonSupreme Court of Pennsylvania · 1842
3Cited by2 opinions
- Hershey Estates v. RettewPennylvania Municipal Court, Philadelphia County · 1933
- National Shawmut Bank v. Hartford Accident & Indemnity Co., Pennsylvania Court of Common Pleas, Philadelphia County1929