Whitecloud Milling & Elevator Co. v. Thomson
Supreme Court of Missouri
Appeal from Holt Circuit Court. — Hon. William G. Ellison, Judge. (1) No firm member can take anything from an insolvent firm’s estate in process of liquidation until after all of the general firm debts have been satisfied. Lyons, v. Murray, 95 Mo. 28; Ross v. Carson, 32 Mo. App. 148; Funk v. Seehorn, 99 Mo. App. 598; 22 Am. & Eng. Ency.
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Appeal from Holt Circuit Court. — Hon. William G. Ellison, Judge. (1) No firm member can take anything from an insolvent firm’s estate in process of liquidation until after all of the general firm debts have been satisfied. Lyons, v. Murray, 95 Mo. 28; Ross v. Carson, 32 Mo. App. 148; Funk v. Seehorn, 99 Mo. App. 598; 22 Am. & Eng. Ency. Law (2 Ed.), 195, 196; 30 Cyc. 542. (2) In tbe administration of insolvent partnership and individual estates, the partnership creditors are entitled to priority over the individual creditors of the members of the firm in the partnership assets, and the…
1Opinion of the CourtWoodson, J.
This suit originated in the pro'bate court of Holt county, by the appellants filing a petition therein, the substance of which will presently appear. It involves the question of the rights of the partnership creditors of D. D. Perkins & Co., insolvent, to have their partnership debts paid in full, out of the partnership assets, before the payment of the individual claims of one of the partners against the copartnership.
The probate court decided that the partnership debts must he paid first; and the member of the firm having the individual claim against the firm appealed the cause to the…
2Cases cited11 opinions
- Moody v. PeytonSupreme Court of Missouri · 1896
- Hundley v. FarrisSupreme Court of Missouri · 1890
- R. W. Smith & Co. v. Mallory's Ex'rSupreme Court of Alabama · 1854
- Lyons v. MurraySupreme Court of Missouri · 1888
- Ault v. BradleySupreme Court of Missouri · 1905
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3Cited by2 opinions
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- Lutz v. MillerWest Virginia Supreme Court · 1926