Jenkins v. Jenkins
Supreme Court of Arkansas
Appeal from Jefferson Chancery Court; John M. Blliott, Chancellor; .1. Property purchased in the firm name, and paid for with partnership funds, becomes eo instanti partnership property; and in the case of real estate, charging the purchase price, subsequently, on the books of the concern against the account of one of the partners can not have the effect of divesting the title to the real estate out of the partnership.
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Appeal from Jefferson Chancery Court; John M. Blliott, Chancellor; .1. Property purchased in the firm name, and paid for with partnership funds, becomes eo instanti partnership property; and in the case of real estate, charging the purchase price, subsequently, on the books of the concern against the account of one of the partners can not have the effect of divesting the title to the real estate out of the partnership. That could only be effected by proper deed of conveyance from both partners to the purchaser. Kirby’s Digest, § 731. 2. If real estate is ever to be treated as personal…
1Opinion of the CourtMcCulloch, J.
The parties to this action, J. L. Jenkins, appellant, and P. G. Jenkins, appellee, were partners in the mercantile business at Sherrill, Arkansas, under the firm name of “P. G. Jenkins,” and during the pendency of said partnership the real estate in controversy, a house and lot in Sherrill, was purchased, and the conveyance made to appellee. The purchase price was’ paid out of funds of the co-partnership, but the same was charged on the books of the firm to appellee. Appellant immediately moved into the house and occupied it as his home until the commencement of this action. Subsequent ■ to…
2Cases cited2 opinions
- Hatchett v. BlantonSupreme Court of Alabama · 1882
- Richards v. MansonMassachusetts Supreme Judicial Court · 1869
3Cited by5 opinions
- Green v. WhaleySupreme Court of Missouri · 1917
- Diversified Fruit Farms, Inc. v. JohnsonTexas Commission of Appeals · 1933
- Crill v. TritesSupreme Court of Arkansas · 1932
- Sieg v. GreeneCourt of Appeals for the Eighth Circuit · 1915
- Stumpf v. LittellNew Jersey Court of Chancery · 1918