Buckmaster v. Gowen

Citations

• 81 Ill. 153

Syllabus

<p>1. Partnership—suit at law by one partner against anoth&r. Where a partnership is actually formed, and proceeds to do business as such, no action at law can be maintained by one of the partners against another for his misconduct as a member of the firm, such as refusing to furnish money to complete the business undertaken, as he had agreed to do in the formation of the partnership, whereby a great loss of profits is sustained. A final settlement of the affairs must first be had, and this can only be enforced in equity.</p> <p>2. Such a case is distinguishable from a case where one refuses to become a partner according to his agreement. There, it seems, he is liable to an. action at law.</p>