Peniston v. Somers

On the 1st of January, 1855, the plaintiff and defendant formed a partnership to carry on an apothecary and drug’ store in New Orleans, for a term of five years, with the understanding- that, in case of any disagreement between them, “ the matters in dispute ” should bo referred to arbitrators, whose decision shall be final.

The parties mutually admit that, in consequence of a disagreement betweeu them, all the transactions of their partnership were by them submitted to arbitrators lor a settlement, on the 1st of January, 1858 ; that the award was closed on the 5th of April, 1858, and…