Phillips v. C. Palomo & Sons

WISDOM, Circuit Judge.

This appeal concerns exemptions under the law of Texas: When a partnership in bankruptcy owns four truck-trailers, is one truck-trailer exempt to each of four partners under an exemption statute allowing “every family” two horses and a wagon?1 We are compelled to answer, “Yes”.

Canuto Palomo and his three sons, Esteban, Domingo, and Louis Palomo, organized a partnership, C. Palomo & Sons, in November, 1954, to engage in the wholesale fruit, vegetable, and produce business. Canuto furnished the entire capital, which was divided among the partners in the following…