Handbook on the Law of Partnerships: Including Limited PartnershipsWest publishing Company, 1911 - 721 pages |
Contents
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Other editions - View all
Handbook on the Law of Partnerships: Including Limited Partnerships ... Eugene Allen Gilmore No preview available - 2013 |
Common terms and phrases
action at law Adm'r agreed authority Bank bankruptcy Beav bind Cent claim Conn contract conveyance copartners corporation court of equity debtor deceased partner defendant dissolution English Partnership estoppel existence fact firm assets firm business firm creditors firm debts firm name firm property fraud Gilmore held implied power individual insolvent interest Iowa joint joint tenancy legal title limited partnership Mass Minn mortgage N. J. Eq N. J. Law N. Y. Supp ners nership note 20 obligations Ohio St old firm parties Partn partnership business partnership debts partnership property payment plaintiff principal profits real estate references in note retiring partner rule separate creditors share ship Smith South South Carolina South Dakota special partner statute surviving partner tenancy tenants in common third persons tion tort transactions trust
Popular passages
Page 433 - All goods being, at the commencement of the bankruptcy, in the possession, order or disposition of the bankrupt, in h'ia trade or business, by the consent and permission of the true owner, under such circumstances that he is the reputed owner thereof...
Page 22 - It is often said that the test, or one of the tests, whether a person not ostensibly a partner is nevertheless, in contemplation of law, a partner, is, whether he is entitled to participate in the profits. This, no doubt, is, in general, a sufficiently accurate test ; for a right to .participate in profits affords cogent, often conclusive, evidence that the trade in which the profits have been made was carried on in part for or on behalf of the person setting up such a claim.
Page 728 - Unless authorized by the other partners or unless they have abandoned the business, one or more but less than all the partners have no authority to: (a) Assign the partnership property in trust for creditors or on the assignee's promise to pay the debts of the partnership, (b) Dispose of the good-will of the business, (c) Do any other act which would make it impossible to carry on the ordinary business of the partnership, (d) Confess a judgment, (e) Submit a partnership claim or liability to arbitration...
Page 727 - Joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property, or part ownership does not of itself establish a partnership, whether such co-owners do or do not share any profits made by the use of the property.
Page 28 - Every partner is an agent of the partnership for the purpose of its business, and the act of every partner, including the execution in the partnership name of any instrument, for apparently carrying on in the usual way the business of the partnership of which he is a member binds the partnership, unless the partner so acting has in fact no authority to act for the partnership in the particular matter, and the person with whom he is dealing has knowledge of the fact that he has no such authority.
Page 728 - ... unless the partner so acting has in fact no authority to act for the firm in the particular matter, and the person with whom he is dealing either knows that he has no authority, or does not know or believe him to be a partner.
Page 154 - ... nothing is better established than this principle, that money directed to be employed in the purchase of land, and land directed to be sold and turned into money, are to be considered as that species of property into which they are directed to be converted...