A Manual of Partnership Relations, Treating of the Nature, Formation, Operation And Dissolution of the Partnership With the Forms Used Therein, And a Comparative Consideration of the Partnership And the Corporation
A Manual of Partnership Relations, Treating of the Nature, Formation, Operation And Dissolution of the Partnership With the Forms Used Therein, And a Comparative Consideration of the Partnership And the Corporation
Conyngton, Thomas, B. 1855
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The creditors of the partnership shall appoint the trustee ; in other respects, so far as possible, the estate shall be administered as herein provided for other estates. c. The court of bankruptcy which has jurisdiction of one of the partners may have jurisdiction of all the " Loveland on Bankruptcy, § 96a. 112 PARTNERSHIP RELATIONS. partners and of the administration of the partnership and individual property. d. The trustee shall keep separate accounts of the partnership property and of the ...property belonging to the individual partners. e. The expenses shall be paid from the partnership property and the individual property in such proportions as the court shall determine. f. The net proceeds of the partnership property shall be appropriated to the payment of the partnership debts, and the net proceeds of the individual estate of each partner to the payment of his individual debts. Should any surplus remain of the property of any part- ner after paying his individual debts, such surplus shall be added to the partnership assets and be applied to the payment of the partnership debts.
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