Schmidlapp & Bros. v. S. D. Currie & Co.
Mississippi Supreme Court
Error to the Circuit Court of Hinds County. Hon. S. S. Calhoon, Judge. The case is stated in the opinion of the court. 1. A firm is in law distinct from the members who compose it, and a transfer of firm property to pay the individual debts-of a member of the firm is a voluntary conveyance, without any valuable consideration, and is void as to the existing partnership creditors. Stegall v. Coney & Rice, 49 Miss. 761; Williams v. Cage, 49 Miss. 777 ; Bump’s Fr.
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Error to the Circuit Court of Hinds County. Hon. S. S. Calhoon, Judge. The case is stated in the opinion of the court. 1. A firm is in law distinct from the members who compose it, and a transfer of firm property to pay the individual debts-of a member of the firm is a voluntary conveyance, without any valuable consideration, and is void as to the existing partnership creditors. Stegall v. Coney & Rice, 49 Miss. 761; Williams v. Cage, 49 Miss. 777 ; Bump’s Fr. Conv. 227, 381. 2. If a transfer is fraudulent, the creditors are not affected thereby, but may avail themselves of all the remedies…
1Opinion of the CourtChalmers, J.
Harney and Washington were partners in a liquor saloon, the former having contributed the- capital, and the latter his-services. Harney, having become indebted to Odeneal, transferred to him in part payment of the indebtedness, and with the knowledge and consent of Washington, the entire business- and stock of the partnership. Odeneal subsequently took in Currie as a partner, and the business was continued under the style-of S. D. Currie & Co. The debt of Harney to Odeneal, jvhich formed the consideration of the transfer, was the individual debt of Harney, for which neither Washington ñor the…
2Cases cited2 opinions
- Allen v. Center Valley Co.Supreme Court of Connecticut · 1851
- Rice v. BarnardSupreme Court of Vermont · 1848
3Cited by26 opinions
- Fitzpatrick v. FlannaganSupreme Court of the United States · 1882
- Sexton v. AndersonSupreme Court of Missouri · 1888
- Sargent v. BlakeCourt of Appeals for the Eighth Circuit · 1908
- Swearingen v. BassettTexas Supreme Court · 1886
- Goldsmith v. Eichold Bros. & WeissSupreme Court of Alabama · 1891
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