Marten v. Van Schaick & Bloodgood
New York Court of Chancery
The bill in this cause was filed for the purpose of dissolving a partnership which had existed between the parties, and to settle the partnership accounts and distribute the property and effects of the firm. moved for the appointment of a receiver to take charge of the partnership effects, consisting of a printing establishment, and the subscription list and advertising custom of a public newspaper. opposed the application, on the ground that the principal value of the…
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The bill in this cause was filed for the purpose of dissolving a partnership which had existed between the parties, and to settle the partnership accounts and distribute the property and effects of the firm. moved for the appointment of a receiver to take charge of the partnership effects, consisting of a printing establishment, and the subscription list and advertising custom of a public newspaper. opposed the application, on the ground that the principal value of the property consisted in the good will of their business, which would be lost by the appointment of a receiver.
1Opinion of the Court
The Chancellor.
Each partner has an equal right in this case to the possession and control of the partnership effects and business, and if they cannot agree among themselves, it is a matter of course to appoint a receiver, upon a bill filed to close the partnership concerns, on the application of either party. If a receiver is appointed, he must proceed and sell the establishment without delay; and in the mean time the business must be carried on by him, as usual, so that the good will thereof may be secured to the purchaser, and the full value of the establishment realized by the partners, on…
2Cited by26 opinions
- Davis v. GraySupreme Court of the United States · 1873
- Boon v. . MossNew York Court of Appeals · 1877
- Didlake v. Roden Grocery Co.Supreme Court of Alabama · 1909
- Allen v. HawleySupreme Court of Florida · 1855
- Fitzpatrick v. Daily States Publishing Co.Supreme Court of Louisiana · 1896
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