Smith v. Lowe
New York Court of Chancery
The complainant and defendant had been partners as watchmakers. The former became dissatisfied with the latter and a bill was filed for a dissolution of the partnership and for an account. It appeared by the bill, that the complainant had taken into his own possession the stock in trade. He now, by a petition, asked for a receiver.
1Opinion of the Court
The Vice-Chancellor.
There can be no ground for a receiver in a case of partnership where the partner applying has the property in his own possession. He can, as a partner, seU it* The only liability which attaches to him is that of ac-' counting to the other partner for his share of the property, and if the latter does not object, he who has the possession ought not to complain.
Motion denied.
2Cited by3 opinions
- Oyama v. StuartHawaii Supreme Court · 1915
- Buchanan v. ComstockNew York Supreme Court · 1865
- Oyama v. StuartHawaii Supreme Court · 1915