Towner v. Lane's adm'r
Supreme Court of Virginia
James Lane had been, for many years prior to 1S17, engaged in quite an extensive mercantile business, consisting principally in the retailing of merchandise, at Shepherdstown in Jefferson county, and Benjamin Towner was a young man who had been long in his employment there, having been from early youth brought up to business by him.
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James Lane had been, for many years prior to 1S17, engaged in quite an extensive mercantile business, consisting principally in the retailing of merchandise, at Shepherdstown in Jefferson county, and Benjamin Towner was a young man who had been long in his employment there, having been from early youth brought up to business by him. In September 1817, Lane admitted Towner into partnership with him; and announced by advertisement at Shepherdstown, that he had given Towner an interest in his business at that place, which would in future be carried on under the firm of Lane Sf Towner; this, Lane…
1Opinion of the CourtBrockenbrough, J.
In the view which I have taken of this case, I do not know that it is important to decide which is the best construction of the ci*?il law, that contended for by the appellant’s or by the appellee’s counsel. I shall, however, briefly notice them. On the one hand, we have the plain words of the Institutes, Lib. III. Tit. XXVI. § 1. “ If no express agreement be made ’by the partners concerning their shares of profit and loss, the loss and the profit must be equally divided;” Cooper’s Justinian, p. 280. Gow says, if there be not an express agreement, the partnership, as regards its regulation,…
2Cited by15 opinions
- Morgan v. BellWashington Supreme Court · 1892
- Hammond v. HanninMichigan Supreme Court · 1870
- Butcher v. PetersonWest Virginia Supreme Court · 1885
- Mankin v. JonesWest Virginia Supreme Court · 1910
- Stuart v. PennisSupreme Court of Virginia · 1902
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