Bohler, Huse & Co. v. Tappan
District Court, E.D. Arkansas
Burnett & Turner were partners in the business of keeping a wharf-boat at Helena. The firm owned a wharf-boat, which was purchased and used for partnership purposes, and was partnership property. This wharf-boat was purchased from Johnson, partially or wholly upon credit.
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Burnett & Turner were partners in the business of keeping a wharf-boat at Helena. The firm owned a wharf-boat, which was purchased and used for partnership purposes, and was partnership property. This wharf-boat was purchased from Johnson, partially or wholly upon credit. Burnett, one of the partners, died before the wharf-boat was paid for, and after his death, and on the twenty-fifth day of April, 1879, Turner, as surviving member of the firm of Burnett & Turner, transferred the wharf-boat, by deed of trust in the nature of a mortgage, to Tappan, to secure the payment to Johnson of the…
1Opinion of the CourtCaldwell, J.
The precise question in this case, on the agreed facts, is whether a sole surviving partner can make a valid transfer by deed of trust in the nature of a mortgage of personal property, belonging to the partnership, to secure the payment of a partnership debt.
During the continuance of a partnership one partner may transfer personal property by way of mortgage as security for a partnership debt. Milton v. Mosher, 7 Met. 244; Patch v. Wheatland, 8 Allen, 102; Anderson v. Tompkins, 1 Brock. (Marshall’s Decs.) 456; Harrison v. Sterry, 5 Cranch, 289.
On the dissolution of partnership by the death of…
2Cases cited4 opinions
- Harrison v. SterrySupreme Court of the United States · 1809
- Barry v. BriggsMichigan Supreme Court · 1871
- Stearns v. HoughtonSupreme Court of Vermont · 1866
- Hitchcock v. St. JohnNew York Court of Chancery · 1840
3Cited by1 opinion
- Amunategui v. Spokane Cattle Loan Co.Idaho Supreme Court · 1923