Beebe v. Olentine
Supreme Court of Arkansas
Appeal from Pike Chancery Court; James D. Shaver, Chancellor; STATEMENT BY THE COURT. About the 1st of January, 1905, Charles Olentine and Elmer E. Shock conceived the plan of buying up certain timber lands in Pike County, Arkansas, from various persons and selling them for a profit. According to the .testimony -of Shock, each was to pay half of the purchase price, and each to have 'half of the final profits.
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Appeal from Pike Chancery Court; James D. Shaver, Chancellor; STATEMENT BY THE COURT. About the 1st of January, 1905, Charles Olentine and Elmer E. Shock conceived the plan of buying up certain timber lands in Pike County, Arkansas, from various persons and selling them for a profit. According to the .testimony -of Shock, each was to pay half of the purchase price, and each to have 'half of the final profits. In furtherance of their plan, they entered into the following written agreement with Jeff and Wallace Hughes on January 31, 1905: “This agreement made this day by which Jeff Hughes and…
1Opinion of the Court
Hart, J.,
(after stating the facts). Did the original agreement between Shock and Olentine create a partnership for the purchase and sale of lands?
In the case of Lacotts v. Pike, 91 Ark. 26, the court held:
“1. In order to constitute a partnership, it is necessary that there shall be something more than a joint ownership of ■property.
“2. While an agreement to share in profits is not a test of partnership, it is an essential element in one.”
And in the case of Buford v. Lewis, 87 Ark. 412, the court said: “To determine whether a given agreement amounts to a •partnership between the parties…
2Cases cited7 opinions
- Chester v. . DickersonNew York Court of Appeals · 1873
- Richards v. GrinnellSupreme Court of Iowa · 1884
- Davenport v. BuchananSouth Dakota Supreme Court · 1894
- Buford v. LewisSupreme Court of Arkansas · 1908
- Newell v. CochranSupreme Court of Minnesota · 1889
2 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Wilson v. TodhunterSupreme Court of Arkansas · 1918
- Stone v. RiggsSupreme Court of Arkansas · 1924
- Edlin v. MoserSupreme Court of Arkansas · 1928
- O'Bryan v. ZuberSupreme Court of Arkansas · 1925
- Harrison v. WalkerSupreme Court of Arkansas · 1916
6 more not listed; retrieve them via the Exa API.