Offutt v. Scott
Supreme Court of Alabama
Appeal from Chancery Court of Montgomery. Heard before Hon. A. W. Dillard. The case made by the bill, answers and proof may be stated as follows: In May, 1860, and prior thereto, a partnership composed of R. H. and bis brother W. E. Offutt, did business in tbe city of Montgomery, Alabama, under tbe firm name and style of E. H. & W. E. Offutt.
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Appeal from Chancery Court of Montgomery. Heard before Hon. A. W. Dillard. The case made by the bill, answers and proof may be stated as follows: In May, 1860, and prior thereto, a partnership composed of R. H. and bis brother W. E. Offutt, did business in tbe city of Montgomery, Alabama, under tbe firm name and style of E. H. & W. E. Offutt. In the month of September, 1860, the firm was dissolved by the death- of W. E., who left E. H., the surviving partner, one of his executors. During the existence of the partnership the brothers, who were equal partners, made a purchase as tenants in…
1Opinion of the CourtPeck, C. J.
The first question that seems to arise on this record is, how is the real estate purchased of Knox and wife by Richard H. and William E. Offutt to be regarded? Lid it belong to these parties as individuals, as tenants in common, or did it belong to them as partners, and, therefore, in equity subject to the payment of the partnership debts?
The rule undoubtedly is, that real estate purchased for partnership purposes, and paid for with partnership funds, becomes partnership property, and as far as the creditors of the firm are concerned, and for the payment of their debts, it is, in equity, to…
2Cases cited2 opinions
- Locke's v. PalmerSupreme Court of Alabama · 1855
- Chapman v. HamiltonSupreme Court of Alabama · 1851
3Cited by13 opinions
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- McKleroy v. MusgroveSupreme Court of Alabama · 1919
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