Lockwood v. Carr
New York Surrogate's Court
Decedent, previously to the year 1876, was a co-partner with one, Lo.ckwood, during the continuance of which relation the firm borrowed $2,000, giving therefor a joint and several note, signed by each partner in his individual name, and by the mother of Lockwood, as makers. " This note the latter was subsequently obliged to pay, for which payment she was never reimbursed by the firm.
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Decedent, previously to the year 1876, was a co-partner with one, Lo.ckwood, during the continuance of which relation the firm borrowed $2,000, giving therefor a joint and several note, signed by each partner in his individual name, and by the mother of Lockwood, as makers. " This note the latter was subsequently obliged to pay, for which payment she was never reimbursed by the firm. At various times, while the partnership was in existence, she also endorsed notes, for their accommodation, which were discounted by the banks, and some of which were, from time to time, renewed, she, however,…
1Opinion of the Court
The Surrogate.
The estate for distribution among the creditors amounts to about $2,400. There are two classes of creditors: lsi, those whose claims are conceded to be individual, and which amount to about $2,100, and, 2nd, those who are alleged to be creditors of the firm of G-ray & Lockwood, of which the deceased was a partner, whose claims amount to over $4,000. The individual creditors seek to exclude the firm creditors from participation in the assets of the estate, until they have been paid in full; while the *517firm creditors claim to be entitled to share, pro rata, with the individual…
2Cases cited9 opinions
- Wilcox v. JacksonSupreme Court of the United States · 1839
- The People v. . SturtevantNew York Court of Appeals · 1853
- Voorhis v. . Childs'New York Court of Appeals · 1858
- Fisher v. . HepburnNew York Court of Appeals · 1871
- Pope v. . ColeNew York Court of Appeals · 1873
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