Gates v. Nelles
Michigan Supreme Court
Appeal from Bay. (Green, J.) Bill filed to dissolve a partnership and for an accounting. Complainant appeals. The facts are stated in the opinion and head-note.
1Opinion of the CourtMorse, J.
The complainant was in partnership with one William Ti. Fay, in the business of buying and selling lumber, at Toledo, Ohio.
About June 1, 1883, the defendant bought Fay out, it being one-half of the business, giving notes therefor to the amount of $21,000. Gates indorsed the notes for Nelles. There were seven of the notes, one payable yearly, the last one becoming due on or before July 1, 1889. ,
Upon the same day, in consideration that Gates would pay one-half of these notes, Nelles sold to him one-half of his interest, so that Gates then owned three-quarters and Nelles *448one-quarter of the…
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