Ackerman v. King

Citations

• 29 Tex. 291

Syllabus

<p>Where a part owner of a steamboat brought suit against the other part owners, setting forth his interest, and alleging that the defendants were so managing it that it would result in ruinous loss, and prayed for an injunction, unless the defendants should indemnify him, and to prevent the injunction the defendants executed to the plaintiff a bond, in which they stipulated to save the plaintiff harmless from all loss, damage, debt, and expense incurred for or on account of the said plaintiff in the steamer, the bond becomes the contract for settlement, and the plaintiff is not liable for subsequent, but only for his pro rata of existing, charges at the date of the bond.</p> <p>The fact that the boat was afterwards libeled in an admiralty proceeding, and sold, did not oust the jurisdiction of the State court over the parties, the plaintiff not having propounded his interest in the admiralty court.</p> <p>In such a suit, the measure of the plaintiff's demand is his interest in the boat at its value at the date of the bond of indemnity, subject to the then existing debts.</p>