PARTNERSHIP-DISSOLUTION BY DEATH OF PARTNER

Authors

Abstract

Suit was brought by holders of certificates of deposit against the defendants as partners in an insolvent private bank. At the trial plaintiffs amended their petition by alleging that though defendants called themselves a partnership, they were in law and fact a joint stock company. But they failed to strike out the first allegation. The articles of agreement provided for a manager and a financing committee and for transferable stock, but transferable only to those whom the committee might admit. Several of the shareholders were deceased previous to the time the liability was incurred by the manager, and the status of the group was argued at length. Plaintiffs were non-suited as to all defendants except the manager, and on appeal, the court held: by the very allegations alleged, this was a partnership, dissolved previous to the incurring of the liability, and the manager had no power to bind the other defendants to a new contract. Hammond v. Otwell (Ga. 1930) 154 S.E. 357.

Recommended Citation

PARTNERSHIP-DISSOLUTION BY DEATH OF PARTNER, 29 Mich. L. Rev. 259 (1930).
Available at: https://repository.law.umich.edu/mlr/vol29/iss2/28