Burton v. Goodspeed

Citations

• 69 Ill. 237

Syllabus

<p>1. Partnership—sha/re in profits, when part of compensation, does not create. The fact that a party selling goods, etc., is to receive a portion of the net profits on sales, does not make him a partner with the owner, if they are given merely as a part of his compensation.</p> <p>3. Factor—what constitutes < ne a factor or commission 'merchant. A party agreeing with the owners to receive coal shipped to him for sale, and hoist from the vessel, and put the same on the dock, pay the lake freight, and charge the cost of hoisting and putting the coal on the dock, and the lake freight paid by him, against the coal, and who is to receive for docking, screening, selling and delivering the coal, including his commissions, the sum of $1.50 per ton on all coal delivered at any point outside the yard requiring carting, and $1 per ton on all coal delivered at the yard, and an additional commission of fifty per cent of the net profits on sales, etc., and who agrees to guarantee payments on all sales, advance on the coal as it is shipped $3 per ton of the invoice price, to be drawn for at sight on bills of lading, and to pay the shippers as the coal is sold the balance of the proceeds of sale, and who also agrees not to sell the coal below the market price, and render monthly statements of accounts of sales, etc., will be, as to the coal shipped to him, a factor or commission merchant. Such a contract will not constitute the relation of vendor and vendee, or that of partner.</p> <p>3. Same—poioer to sell on credit. The law7 is w7ell settled, that a factor is authorized to sell upon credit, except where the usage of trade is otherwise.</p> <p>4. Same—party to suit on. contract made in factor's own name. Where a written contract is made by a factor, in his own name, for the purchase or sale of goods for his principal, the principal is bound, and he may sue and be sued thereon in his own name, for the reason that it is treated as the contract of the principal as well as of the ag