Third National Bank v. Snyder
Missouri Court of Appeals
Error to the St. Louis Circuit Court, Thayer, J. In order to confer power on a partner to bind his co-partner by a bill or note, “the partnership must be in a trade or concern to which, the issuing or transfer of bills is necessary or usual, for otherwise a co-partner will not be liable for the act of his partner, unless he gave express authority.”— Chitty on Bills (13th Am. ed.), *46; Story on Part.
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Error to the St. Louis Circuit Court, Thayer, J. In order to confer power on a partner to bind his co-partner by a bill or note, “the partnership must be in a trade or concern to which, the issuing or transfer of bills is necessary or usual, for otherwise a co-partner will not be liable for the act of his partner, unless he gave express authority.”— Chitty on Bills (13th Am. ed.), *46; Story on Part. (6th ed.), sects. 126, 127; Zuel v. Bowen, 78 111. 234; 1- Lindley oil Part. 236-239; Wilson v. Williams, 14 Wend. 146; Vienne v. Harris, 14 La. An. 382. Where (as here) the usage and custom of…
1Opinion of the CourtThompson, J.
Small and Snyder were partners in St. Louis, doing business as coffee brokers. As between themselves,' neither partner was authorized to bind the other by executing commercial paper. Small, without the knowledge or consent of Snyder, executed, and signed the firm name to, the following promissory note, and procured it to be negotiated : —
“ 237.60. St. Louis, March 27, 1879;
“ Sixty days after date, for value received, — promise to pay to the order of A. B. Cowan, agent, two hundred and thirty-seven dollars, at Third National Bank, St. Louis, with interest from maturity at the rat.e of ten per…
2Cases cited12 opinions
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- Prince v. Crawford & GaitherMississippi Supreme Court · 1874
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3Cited by2 opinions
- Hayden v. GrilloMissouri Court of Appeals · 1887
- Holt v. SimmonsMissouri Court of Appeals · 1884