Evans, Fite, Porter & Co. v. Winston
Supreme Court of Alabama
Appeal from the Chancery Court of Colbert. Heard before the Hon. Tiiomas Cobbs. The bill in this case was filed on the 20th July, 1880, by the appellants, a mercantile partnership doing business in Nashville, Tennessee, against Edmund C. Winston and John M. Nail; ahd sought to have two mortgages, executed by said Nail to said Winston, declared a general assignment under the statute (Code, § 2126), enuring to the equal benefit of all the grantor’s creditors.
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Appeal from the Chancery Court of Colbert. Heard before the Hon. Tiiomas Cobbs. The bill in this case was filed on the 20th July, 1880, by the appellants, a mercantile partnership doing business in Nashville, Tennessee, against Edmund C. Winston and John M. Nail; ahd sought to have two mortgages, executed by said Nail to said Winston, declared a general assignment under the statute (Code, § 2126), enuring to the equal benefit of all the grantor’s creditors. The complainants were creditors of said Nail, and had reduced their demand to a judgment, rendered on March 10th, 1880. The mortgages to…
1Opinion of the CourtStone, J.
— Creditors have no lien on partnership property, for partnership debts. The lien, when worked out for the benefit of creditors, is the copartner’s right and lien, that partnership effects shall he first applied to the extinguishment of partnership liabilities. The creditor can not assert the lien, of his own mere will. The partner has a paramount right that all partnership debts shall be provided for, before individual creditors can possess themselves of his copartner’s interest in* the property of the firm; and when this right and lien are asserted, the creditor reaps the benefit.— Warren…
2Cases cited2 opinions
- Warren v. TaylorSupreme Court of Alabama · 1877
- Bank of Mobile v. DunnSupreme Court of Alabama · 1880
3Cited by6 opinions
- In re WilcoxDistrict Court, D. Massachusetts · 1899
- Goldsmith v. Eichold Bros. & WeissSupreme Court of Alabama · 1891
- Clark v. Johnson & LattimerAlabama Court of Appeals · 1913
- Lacey v. CowanSupreme Court of Alabama · 1909
- Claflin & Co. v. Behr's Adm'rSupreme Court of Alabama · 1889
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