Farley, Spear & Co. v. Moog
Supreme Court of Alabama
Appeal from the Chancery Court of Mobile. Heard before the Hon. John A. EostIsr. The bill in this case was filed on the 21st January, 1885, by Farley, Spear & Co., a partnership doing business as bankers in the city of Montgomery, and claiming to be creditors of the late firm of A. & B. Moog, a mercantile partnership doing business as wholesale grocers and liquor-dealers in the city of Mobile; against Bernard Moog, the surviving partner of said firm, the sheriff of Mobile…
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Appeal from the Chancery Court of Mobile. Heard before the Hon. John A. EostIsr. The bill in this case was filed on the 21st January, 1885, by Farley, Spear & Co., a partnership doing business as bankers in the city of Montgomery, and claiming to be creditors of the late firm of A. & B. Moog, a mercantile partnership doing business as wholesale grocers and liquor-dealers in the city of Mobile; against Bernard Moog, the surviving partner of said firm, the sheriff of Mobile county, Marcus Lyons and others, creditors of said Bernard Moog individually, who had sued out attachments against him,…
1Opinion of the CourtSomertille, J.
Upon the dissolution of a partnership, the assets of the firm pass to the surviving partner, the legal title and possession becoming vested in him. For many purposes he is, at law, the legal owner of such property, with power to sell or transfer it ad, libitum. But, in equity, he occupies the relation of quasi trustee, towards both the personal representative of the deceased partner and the creditors of the partnership. It is said by Mr. Parsons, that “surviving partners are held strictly as trustees, and their conduct in discharging their trust is carefully looked after by courts of…
2Cases cited13 opinions
- Menagh v. . WhitwellNew York Court of Appeals · 1873
- Davis v. Sowell & Co.Supreme Court of Alabama · 1884
- Schmidlapp & Bros. v. S. D. Currie & Co.Mississippi Supreme Court · 1878
- Washburn v. Bank of Bellows FallsSupreme Court of Vermont · 1847
- Mayer v. ClarkSupreme Court of Alabama · 1866
8 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Goldsmith v. Eichold Bros. & WeissSupreme Court of Alabama · 1891
- Goldthwaite v. JanneySupreme Court of Alabama · 1893
- First National Bank v. SchuetzSupreme Court of Kansas · 1918
- First Nat. Bank of Birmingham v. JohnsonSupreme Court of Alabama · 1933
- Sloan v. WilsonSupreme Court of Alabama · 1897
5 more not listed; retrieve them via the Exa API.