Cases On the Law of Partnership, Including Limited Partnerships, Selected From Decisions of English And American Courts
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This was an appeal by the bank and by Lamport. The validity of the mortgages depends on whether the land on which they were given was the property of the mortgagors individually or whether it belonged to the partnership.
Magruder, J. * * * Whether real estate upon which a part- nership transacts its business is firm property or the property of the individual members of the firm is oftentimes a difficult question to determine, and one upon which the authorities are not altogether uni- form. The ...mere fact of the use of land by a firm does not make it partnership property. Geopper v. Kinsinger, 39 Ohio St. 429 ; Hat- chett V. Blanton, 72 Ala. 423. Nor is real estate necessarily the in- dividual property of the members of a firm because the title is held by one member, or by the several members in individual interests. 1 Bates, Partn. § 280. Whether real estate is partnership or individual property depends largely upon the intention of the partners. That in- tention may be expressed in the deed conveying the land, or in the arti- cles of partnership ; but when it is not so expressed the circumstances usually relied upon to determine the question are the ownership of the 172 NATURE AND CHARACTERISTICS OF A PARTNERSHIP.
What to read after Cases On the Law of Partnership, Including Limited Partnerships, Selected From Decisions of English And American Courts?
You can find similar books in the "Read Also" column, or choose other free books by Eugene Allen Gilmore to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This was an appeal by the bank and by Lamport. The validity of the mortgages depends on whether the land on which they were given was the property of the mortgagors individually or whether it belonged to the partnership.
Magruder, J. * * * Whether real estate upon which a part- nership transacts its business is firm property or the property of the individual members of the firm is oftentimes a difficult question to determine, and one upon which the authorities are not altogether uni- form. The ...mere fact of the use of land by a firm does not make it partnership property. Geopper v. Kinsinger, 39 Ohio St. 429 ; Hat- chett V. Blanton, 72 Ala. 423. Nor is real estate necessarily the in- dividual property of the members of a firm because the title is held by one member, or by the several members in individual interests. 1 Bates, Partn. § 280. Whether real estate is partnership or individual property depends largely upon the intention of the partners. That in- tention may be expressed in the deed conveying the land, or in the arti- cles of partnership ; but when it is not so expressed the circumstances usually relied upon to determine the question are the ownership of the 172 NATURE AND CHARACTERISTICS OF A PARTNERSHIP.
What to read after Cases On the Law of Partnership, Including Limited Partnerships, Selected From Decisions of English And American Courts?
You can find similar books in the "Read Also" column, or choose other free books by Eugene Allen Gilmore to read onlineMoreLess
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