McHenry v. Heiderich

On July 1, 1922, the defendants Herman Heiderich and Fred Heiderich, father and son, were copartners in the retail shoe business at Oneida, N. Y., and had been for about five years. On that date the partnership was dissolved, the father withdrawing and the business being continued by the son. Up to that time the father had furnished the money that went into the business and the son had conducted the store. On the dissolution the son purchased his father’s interest for the sum of $6,400, for which he gave his promissory note and agreed to secure it by a chattel mortgage of the same amount upon…