Johnson's Appeal
Supreme Court of Pennsylvania
Appeal from the Court of Common Pleas No. 4, of Philadelphia county: In equity: Of January Term, 1886, No. 197. This was an appeal by William H. Johnson from a decree-of said court. A bill in equity was filed by Robert G. Loughrey against William H. Johnson, averring that a partnership had existed between them, that it had been dissolved and that, the defendant on being requested and commanded had refused1 an account and settlement of the partnership business.
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Appeal from the Court of Common Pleas No. 4, of Philadelphia county: In equity: Of January Term, 1886, No. 197. This was an appeal by William H. Johnson from a decree-of said court. A bill in equity was filed by Robert G. Loughrey against William H. Johnson, averring that a partnership had existed between them, that it had been dissolved and that, the defendant on being requested and commanded had refused1 an account and settlement of the partnership business. The-defendant filed an answer admitting the partnership and its dissolution, that he had not been able to account and settle the…
1Opinion of the CourtJustice Green
There is no question at all that the tenants’ right of renewal although it may not be enforceable against the will of the landlord, is a property or asset incident to an existing lease, and is so recognized by all the authorities. When the lease is held by a .partnership this chance or opportunity of renewal is in itself a distinct asset of the partnership in which all the partners have an interest. As a consequence of this doctrine one partner in a firm cannot take a new lease in renewal of an existing one of the firm, in his own name, or for his own benefit without being liable to account…
2Cases cited2 opinions
- Woolsey v. SeelyOhio Supreme Court · 1883
- Speiss v. . RosswogNew York Court of Appeals · 1884
3Cited by11 opinions
- McCourt v. Singers-BiggerCourt of Appeals for the Eighth Circuit · 1906
- Young v. CooperCourt of Appeals of Tennessee · 1947
- In re John F. Doyle & SonCourt of Appeals for the Third Circuit · 1913
- Underdown v. UnderdownSupreme Court of Pennsylvania · 1924
- Aschenbach v. CareySupreme Court of Pennsylvania · 1909
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