Clapp v. Lacey
Supreme Court of Connecticut
Amicable submission to the Superior Court on an agreed statement of facts. In 1863 a limited partnership was formed at Bridgeport in this state, under the name of Lacey, Meeker & Co., in which Stillman S. Clapp was a special partner, and the defendants were general partner's. Clapp died in 1865 and the plaintiff •was his executrix.
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Amicable submission to the Superior Court on an agreed statement of facts. In 1863 a limited partnership was formed at Bridgeport in this state, under the name of Lacey, Meeker & Co., in which Stillman S. Clapp was a special partner, and the defendants were general partner's. Clapp died in 1865 and the plaintiff •was his executrix. The partnership expired by its own limitation on the 30th of June, 1868. Clapp, as special partner, put into the firm as capital $50,000, in cash, complying in all respects with the requirements of the-statute with regard to limited partnerships. At the time of his…
1Opinion of the Court
Butler J.
We are all agreed that we must advise the Superior Court to determine the question which it is asked to decide in the negative. The case, as presented, does not find that the assets of the general partners are in fact insufficient to pay the debts of the partnership and that of Mrs,. Clapp, and in the absence of such finding no sufficient reason for withholding payment from Mrs. Clapp appears.
In regard to the construction which should be given to the statute in cases where insolvency, in fact exists, we are not all agreed. A majority of the court are of opinion that the last clause…
2Cases cited2 opinions
- Mills v. ArgallNew York Court of Chancery · 1837
- Ward v. NewellNew York Supreme Court · 1864
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- Silvola v. ROWLEFTSupreme Court of Colorado · 1954
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