Smith v. Diamond
Wisconsin Supreme Court
APPEAL from the Circuit Court for Milwaul&ee County. The action is to dissolve a partnership between the parties. The complaint charges divers breaches of the partnership agreement by defendant, to the .damage of the firm, and demands the appointment of a receiver of .the partnership effects, an accounting, and the closing of the partnership business.
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APPEAL from the Circuit Court for Milwaul&ee County. The action is to dissolve a partnership between the parties. The complaint charges divers breaches of the partnership agreement by defendant, to the .damage of the firm, and demands the appointment of a receiver of .the partnership effects, an accounting, and the closing of the partnership business. Defendant, in his answer, denies the alleged breaches 'of the partnership contract on his part, and charges that plaintiff has been guilty of breaches thereof on his part, to the great damage of the firm. The partnership articles set out in the…
1Opinion of the CourtEton, C. J.
The action involves only the transactions and dealings of the firm of Smith & Diamond, and of the partners with the firm, and the obligations and liabilities of each of such partners to the firm, and through it to each other. Neither partner can assert and enforce in this action any individual claim against his copartner, no matter how such claim arose or what the state of the accounts of each partner with the firm may be. The reason is plain. A partner has no claim against his copartner individually, on account of partnership transactions. If a partner is in arrears in his partnership…
2Cases cited1 opinion
- Sprout v. CrowleyWisconsin Supreme Court · 1872
3Cited by3 opinions
- Pendleton v. BeyerWisconsin Supreme Court · 1896
- Blakely v. SmockWisconsin Supreme Court · 1897
- Green v. StacyWisconsin Supreme Court · 1895