Hayes v. Reese
New York Supreme Court
APPEAL from a judgment entered at a special term, upon demurrer to the 1st and 3d answers of the defendant David Eeese. The complaint alleged that on the 18th day of J une, 1850,- the plaintiff and the defendants, except David Eeese, together with Michael Williams and John H. Ashley, entered into copartnership together as rail road contractors, and continued together as such until June 17, 1851, when said co-partnership was dissolved, and a copartnership was then formed and…
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APPEAL from a judgment entered at a special term, upon demurrer to the 1st and 3d answers of the defendant David Eeese. The complaint alleged that on the 18th day of J une, 1850,- the plaintiff and the defendants, except David Eeese, together with Michael Williams and John H. Ashley, entered into copartnership together as rail road contractors, and continued together as such until June 17, 1851, when said co-partnership was dissolved, and a copartnership was then formed and the copartnership business was continued by the plaintiff and said defendants, except David Eeese, until'about January…
1Opinion of the Court
By the Court, E. Darwin Smith, J.
The interest of a partner in the partnership property consists in his ratable proportion of the assets of the copartnership after the payment of all its debts. In a suit in equity for a settlement of the copartnership affairs no decree can rightfully be made for the payment by one partner of any sum to another, except upon this basis. A decree, upon a final accounting between partners, that one shall pay an ascertained balance to another, assumes that the sum so decreed has been duly ascertained to be due to such partner upon a full settlement of the…
2Cited by8 opinions
- Greenup v. CrooksIndiana Supreme Court · 1874
- Clemens v. . ClemensNew York Court of Appeals · 1867
- Harris v. HarrisNew York Supreme Court · 1861
- Clemens v. ClemensNew York Court of Appeals · 1867
- Aldridge v. WalkerNew York Supreme Court · 1893
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