Matter of Kelley

D. M. Kelley, E. M. Drayton, F. R. Bauer and R. L. Pond were partners engaged in the business of investment bankers and brokers. In October, 1923, they decided to dissolve the firm. Accordingly an elaborate ■ dissolution agreement was executed, which with later amendments provided that the partnership should be terminated on December thirty-first. All partnership assets should be divided in certain proportions among the partners. Kelley and Bauer were named as liquidating partners and immediately after December thirty-first they were to collect claims and demands due or which might become due…