Burnett v. Hopwood

Plaintiff appealed from an order denying his motion for a new trial.

Plaintiff and defendant Hopwood became partners under an oral agreement in a stock and bond brokerage business in 1919. In 1922 defendant Davenport joined the firm, which continued under an oral agreement. On May 15, 1927, the three partners entered into a ivritten partnership contract.

When Davenport became a partner he paid $20,000, and Burnett and HopAvood, “having by mutual agreement of said [three] partners taken, each, the sum of $1,500 for their personal accounts, from the $20,000 then contributed and paid by said…