White v. Union Insurance
Supreme Court of South Carolina
Assumpsit for two dividends of shares in the Union Insurance Company, for seven hundred and forty-four ^dollars, held by the copartners, during the existence of copartnership, and assigned by the survivor for the benefit of creditors.
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Assumpsit for two dividends of shares in the Union Insurance Company, for seven hundred and forty-four ^dollars, held by the copartners, during the existence of copartnership, and assigned by the survivor for the benefit of creditors. The main and principal defence set up by the Company, was an indorsement upon a bill of exchange, by John P. White, one of the copartners, which had been discounted by said Company, for account of Bailey and Waller, on a Mr. Satterthwaite, in New York, and which had been returned protested. This case came before the Circuit Court, upon a special verdict, which…
1Opinion of the Court
The opinion of the Court was delivered by
Bat, J.
This special verdict appears to me to bring two important points before the Court:
1. Whether this assignment by the surviving copartner was valid or not ? And if so,
2. Whether the defendant had a right to set off the amount of these dividends against the survivor, upon his endorsement on the bill of exchange, returned protested, or not ?
Under this first head, I take the law to be very well settled at this day, (as was properly observed by the ’’'plaintiff’s counsel in the argument,) that the copartnership effects ought to go to the payment of…
2Cases cited2 opinions
- Sanford v. MicklesNew York Supreme Court · 1809
- Montgomery v. HasbrouckNew York Supreme Court · 1808