Saunders v. McDonough
Supreme Court of Alabama
'Appeal from Jefferson Chancery Court. Heard before Hon. A. H. Benners. Bill by Warwick Saunders against R. N. McDonough and others, to restrain and enjoin the selling, pledging, or transferring of certain shares of capital stock and bonds of the Self-Flmxing Ore & Iron Company, and for an accounting and other relief. From a decree sustaining demurrers to the bill, complainant appeals. The averments of the bill sufficiently appear from the opinion of the court.
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'Appeal from Jefferson Chancery Court. Heard before Hon. A. H. Benners. Bill by Warwick Saunders against R. N. McDonough and others, to restrain and enjoin the selling, pledging, or transferring of certain shares of capital stock and bonds of the Self-Flmxing Ore & Iron Company, and for an accounting and other relief. From a decree sustaining demurrers to the bill, complainant appeals. The averments of the bill sufficiently appear from the opinion of the court. Exhibit A to the bill is as follows: This memorandum of agreement made in triplicate, bearing date November 26, 1912, the same…
1Opinion of the CourtSomerville, J.
(1-3) “The subject of joint adventures is of comparative modern origin. It was un*125known at common law, being regarded as within the principles governing partnerships. While some courts hold that a joint adventure is not identical with a partnership, it is regarded as of a similar nature, and governed by the same rules of law. One distinction lies in the fact that, while a partnership is ordinarily formed for the transaction of a general business of a particular kind, a joint adventure relates to a single transaction, although the latter may comprehend a business to be continued for a period of…
2Cases cited14 opinions
- Marston v. . GouldNew York Court of Appeals · 1877
- Lind v. WebberNevada Supreme Court · 1913
- Root v. JohnsonSupreme Court of Alabama · 1891
- Botsford v. Van RiperNevada Supreme Court · 1910
- Berry v. ColbornWest Virginia Supreme Court · 1909
9 more not listed; retrieve them via the Exa API.
3Cited by57 opinions
- Denny v. GuytonSupreme Court of Missouri · 1931
- Elsbach v. MulliganCalifornia Court of Appeal · 1943
- San Francisco Iron & Metal Co. v. American Milling & Industrial Co.California Court of Appeal · 1931
- Thompson v. DuncanTexas Commission of Appeals · 1932
- Christie v. DurdenSupreme Court of Alabama · 1921
52 more not listed; retrieve them via the Exa API.