Ætna Insurance v. Bank of Wilcox
Nebraska Supreme Court
Appeal from the district court of Kearney county. Heard below before Beall, J. The facts are stated by the commissioner. If a person contract with a partnership to contribute his services to the enterprise, for which he is to be compensated by a proportion of the profits, he becomes a member of the firm and liable for its debts, although he does not stipulate to bear any part of the losses.
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Appeal from the district court of Kearney county. Heard below before Beall, J. The facts are stated by the commissioner. If a person contract with a partnership to contribute his services to the enterprise, for which he is to be compensated by a proportion of the profits, he becomes a member of the firm and liable for its debts, although he does not stipulate to bear any part of the losses. (Strader v. White, 2 Neb., 849; Gibson v. Smith, 31 Neb., 354; Harvey v. Childs, 28 O. St., 319; Wood v. Toilette, 7 O. St., 173; Leggett v. Hyde, 58 N. Y., 272.) Partnership creditors are entitled to…
1Opinion of the Court
Ragan, C.
Tbe Bank of Wilcox is a banking corporation created under tbe laws of tbe state and domiciled at Wilcox, Nebraska. For some years prior to 1890 Henry Wilcox was tbe easbier of said bank, and during tbe time be was sucb easbier be became indebted to it in about tbe sum of |30,000. In April, 1890, at said village of Wilcox, Henry Wilcox embarked also in tbe business of buying' and selling lumber and sucb other material as is usually kept in a country lumber yard. Tbe business was conducted and carried on under and by tbe name of tbe “Wilcox Lumber Company.” Henry Wilcox furnished all…
2Cases cited2 opinions
- Waggoner v. First National BankNebraska Supreme Court · 1894
- Gibson v. M. E. Smith & Co.Nebraska Supreme Court · 1891
3Cited by8 opinions
- Campbell v. Farmers & Merchants BankNebraska Supreme Court · 1896
- Agnew v. MontgomeryNebraska Supreme Court · 1904
- Fairbanks, Morse & Co. v. J. L. Welshans & Co.Nebraska Supreme Court · 1898
- Herman Goepper & Co. v. Phoenix Brewing Co.Court of Appeals of Kentucky · 1903
- Hughes v. BakerSupreme Court of Oklahoma · 1934
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