Brenner v. Carter

Citations

• 203 Pa. 75
• 52 A. 178
• 1902 Pa. LEXIS 654

Syllabus

<p>Partnership — Interest on overdrafts.</p> <p>In the settlement of partnership accounts the allowance or refusal of interest depends upon the circumstances of each particular case. Thus, on a bill for a partnership accounting, the defendant will not be charged with interest on overdrafts, where there is no evidence as to an agreement for such interest, and where it appears that the plaintiff, who was the liquidating partner and acquainted with the accounts, never made a demand on the defendant for contribution until he filed the bill, nearly six years after the dissolution of the partnership.</p> <p>Where, after the dissolution of a partnership, the partner who is entitled to all of the assets sells the whole business to another firm, and allows a portion of the purchase money to remain in the firm as his contribution as a special partner, his copartners in the original partnership in a subsequent accounting are not entitled to have charged against him, and in their favor, a portion of the interest on the balance of the purchase money which had been allowed to remain in the new partnership,</p>