Price v. McFee

The question on this appeal is whether the insurance of $15,000 paid to Gertrude A. McFee as the beneficiary of a life insurance policy which had been held by her husband, Robert A. McFee, now deceased, is an asset of a partnership which consisted of Thomas J. Price and her husband and traded as Atlas Wiping Cloth Company and T. J. Price and Company.

Price and McFee were copartners for about ten years in the business of dealing in wiping cloths, paper stock, hair and kindred commodities. During that time there were three partnership agreements. The first, which was entered into April 1, 1989,…