B. F. Avery & Son v. Myers, Houseman & Co.

Citations

• 60 Miss. 367

Syllabus

<p>1. Partnership. Personal liability of executor.</p> <p>An executor of a deceased partner who embarks or continues the assets of the decedent in the firm business with the surviving partners, under an agreement that it shall be carried on for his own benefit or for that of the heirs or dis-tributees of the decedent, imposes thereby no liability upon the estate, but becomes personally liable for debts thereafter contracted in the course of such business.</p> <p>2. Same. When executor not personally liable.</p> <p>L., executor of M., allowed the assets of the decedent to continue for more than two years in the Arm business with H. and B., surviving partners of ML, H. & Oo. There was no agreement between L. and the surviving partners that the business should continue for his benefit or for that of the estate. He repeatedly demanded of the surviving partners that the partnership business be wound up. The executor took no part in the conduct of the business of the concern, and neither he nor the estate derived any benefit therefrom; and he did not hold himself out to the world as a partner in any capacity, nor was he so regarded by the surviving partners. Held, that the executor is not personally liable for the debts contracted by the surviving partners in the conduct of the business after the death of the testator.</p>