Grigg v. Empire State Chemical Co.

1. Where a partnership between two persons is dissolved by the retirement of one partner, and the other continues the business and agrees to assume the debts of the firm, the retiring partner becomes a surety for his copartner. Preston v. Garrard, 120 Ga. 689 (48 S. E. 118, 102 Am. St. R. 124, 1 Ann. Cas. 724); Sheppard v. Bridges, 137 Ga. 615, 631 (74 S. E. 245).

2. A creditor of the partnership who has notice of the dissolution and of the agreement by the continuing partner to assume the debts of the firm is bound to accord, to the retiring partner all the rights of a surety. “Hence, if,…