Ferguson v. Reed
Texas Supreme Court
Appeal from Bell. Tried below before the Hon. J. P. Osterhout. On 10th December, 1867, J. E. Ferguson and E. T. Beed entered into a partnership for the purpose of running a mill on the Salado, in Bell county. It was agreed that Beed should pay Ferguson $2,768, part in cash and part at a future day. They were to share equally the mill property and its profits.
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Appeal from Bell. Tried below before the Hon. J. P. Osterhout. On 10th December, 1867, J. E. Ferguson and E. T. Beed entered into a partnership for the purpose of running a mill on the Salado, in Bell county. It was agreed that Beed should pay Ferguson $2,768, part in cash and part at a future day. They were to share equally the mill property and its profits. Ferguson was to expend $2,000 cash on the mill, Beed to refund half of the amount so expended, To perfect this partnership, Ferguson and wife, on the same day, made a deed to Beed for the undivided half of two small tracts adjoining, and…
1Opinion of the Court
Moore, Associate Justice.
On the trial, of this case in the District Court, the judge instructed the jury to the effect that if they believed from the evidence that the defendant failed to pay the amount of principal and interest, as stipulated and agreed in the deed of trust, as the first payment for the share in the land, mills, machinery, &c., situated thereon, sold him by Reed, and had not secured the second year’s interest by his note with good and satisfactory security, as also agreed, then the sum of twelve hundred and fifty dollars was due Reed, and the trustee was authorized to sell…
2Cited by3 opinions
- Quinn v. QuinnNevada Supreme Court · 1903
- Davidson v. WillsCourt of Appeals of Texas · 1909
- Fidelity Union Ins. v. HutchinsCourt of Appeals of Texas · 1937