Livingston v. Blanchard
Massachusetts Supreme Judicial Court
Bill in equity, filed September 7, 1878, to settle the affairs of a partnership. The case was referred to a master, who reported the” following facts: On July 1, 1873, Alfred Livingston, the plaintiff’s testator, and the defendant entered into articles of partnership, for the purpose of carrying on the drug and apothecary business in Lowell.
Read the full summary
Bill in equity, filed September 7, 1878, to settle the affairs of a partnership. The case was referred to a master, who reported the” following facts: On July 1, 1873, Alfred Livingston, the plaintiff’s testator, and the defendant entered into articles of partnership, for the purpose of carrying on the drug and apothecary business in Lowell. These articles provided that Livingston was to contribute the entire cash capital invested in the business; and that the profits, after payment of the expenses, including rent of store, interest on the capital, and salary of $900 a year to the defendant,…
1Opinion of the CourtSoule, J.
It appears from the articles of partnership that Livingston contributed the whole capital which was invested in the partnership business, and that the profits, after providing for the expenses, including rent of store, interest on the capital, and salary to the defendant, were to be divided equally between the partners. The capital became, therefore, partnership property, the expense of insuring which was a part of the expenses of the business; and, on the dissolution of the firm, Livingston, or the plaintiff as the executrix of his will, was entitled to repayment of the capital contributed…
2Cases cited1 opinion
- Whitcomb v. ConverseMassachusetts Supreme Judicial Court · 1875
3Cited by8 opinions
- Malley v. Atlantic Fire & Marine InsuranceSupreme Court of Connecticut · 1883
- Davis v. BicknellMassachusetts Supreme Judicial Court · 1923
- New York Commercial Co. v. FrancisCourt of Appeals for the Second Circuit · 1900
- Brigham v. BicknellMassachusetts Supreme Judicial Court · 1924
- Quinn v. ReedNew York Supreme Court · 1914
3 more not listed; retrieve them via the Exa API.