Farmer v. . Head
Supreme Court of North Carolina
CONTROVERSY without agtion beard by Stacy, J., 5 January, 1918; from New TTanover. Tbis is an action to determine tbe right of tbe defendant L. P. Matthews to a personal property exemption in certain' property which formerly belonged to the partnership known as the Frost Ice Crpam Company, which partnership was composed of the defendant L. P. Matthews and the plaintiff George L. Farmer.
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CONTROVERSY without agtion beard by Stacy, J., 5 January, 1918; from New TTanover. Tbis is an action to determine tbe right of tbe defendant L. P. Matthews to a personal property exemption in certain' property which formerly belonged to the partnership known as the Frost Ice Crpam Company, which partnership was composed of the defendant L. P. Matthews and the plaintiff George L. Farmer. On 2 April, 1917, the plaintiff Farmer sold his interest in the business and property of the partnership to the defendant Matthews, who, as a part of the contract of sale, assumed the payment of all the debts…
1Opinion of the CourtAllen, J.
Prior to 2 April, 1917, the plaintiff Farmer and the defendant Matthews were partners, and as such each was liable for the debts of the firm.
Growing out of this liability, the Court says in Allen v. Grissom, 90 N. C., 92: “Each member of a partnership has a right to require the application of the joint effects to the joint debts, before any portion of them can be diverted to the individual debts of the separate partners, and tbis is a means of personal exoneration. It is an equity possessed by each and grows out of tbeir relations as partners, and the implied limitation upon the power of each…
2Cases cited7 opinions
- Burns & Smucker v. Harris & AllenSupreme Court of North Carolina · 1872
- Allen & Co. v. GrissomSupreme Court of North Carolina · 1884
- Darby & Co. v. GilliganWest Virginia Supreme Court · 1889
- State Ex Rel. Scott & Burton v. KenanSupreme Court of North Carolina · 1886
- Olson v. MorrisonMichigan Supreme Court · 1874
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Oakley v. . MorrowSupreme Court of North Carolina · 1918