Jones v. . Butler
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, made June 9, 1880, which reversed a judgment in favor of defendant, entered upon the report of a referee.
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Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, made June 9, 1880, which reversed a judgment in favor of defendant, entered upon the report of a referee. (Reported below, 23 Hun, 367.) This was an action for an accounting, brought by the executor of a deceased copartner against the surviving partner. ' The copartnership was in the book and stationery business, which has been carried on for many years in the city of Buffalo; first by Theodore Butler, the deceased, who afterward took his son, the defendant, into partnership, and the business was…
1Opinion of the CourtMiller, J.
By the articles of copartnership entered into between the testator and the defendant, all profits- which might.accrue to the partnership were to be divided equally, and “ all losses happening, to the firm, whether from bad debts, depreciation of goods, or any other cause or accident, and all expenses of the business ” were to be borne by the parties-equally. Tinder this provision of the agreement we think that no good reason is shown why the losses should not be thus divided without regard to the amount of capital contributed by each of the partners. Ye therefore concur with the opinion of…
2Cited by3 opinions
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- Greiss v. PlatzerNew Jersey Court of Chancery · 1942