Hallack v. March
Illinois Supreme Court
This was an action of assumpsit on a note, in the Circuit Court of Kane county. The note is as follows: St. Charles, Nov. 19th, 1856. By the first day of April, 1858, 1 promise to pay to Erastus Hallack, and not to any other person, except his heirs and executors, the sum of Four Hundred and Fifty-five Dollars and 23-100, for value received.
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This was an action of assumpsit on a note, in the Circuit Court of Kane county. The note is as follows: St. Charles, Nov. 19th, 1856. By the first day of April, 1858, 1 promise to pay to Erastus Hallack, and not to any other person, except his heirs and executors, the sum of Four Hundred and Fifty-five Dollars and 23-100, for value received. STEPHEN MARCH, BOWMAN & LLOYD, (Surety). Indorsed on back: Interest to commence April 1st, 1857, at ten per cent., as per agreement. $327.00. Paid on the within Note Three Hundred and Twenty-seven Dollars. April 1st, 1858. E. F. Hallack. To which a plea…
1Opinion of the CourtWalker, J.
This record presents the simple question, whether one co-partner can submit matters in dispute between the firm and others to arbitration, so as to bind the co-partners. This question is presented for determination for the first time in this court. And in the conflicting state of the authorities, we feel at liberty to adopt that note, which we consider as conforming to reason and the analogies of the law. It is a rule of universal application that one partner cannot bind his co-partner by deed, where the act would be invalid if it were not by such an instrument, unless he has special power…
2Cases cited1 opinion
- Taylor v. CoryellSupreme Court of Pennsylvania · 1825
3Cited by1 opinion
- Alexander v. MulhallTexas Commission of Appeals · 1881