Casey v. Carver

Citations

• 42 Ill. 225

Syllabus

<p>1. Partnership—application of partnership funds to the payment of a partner’s individual debts. One of several partners has no power to allow an individual indebtedness of his own as a credit on indebtedness of his creditor to the firm, without the assent of the other partners ; and, if he does so, they will not be bound thereby unless they subsequently ratify the credit.</p> <p>2. Same — how the assent of the other partners maybe shown — and what will amount to a ratification. Such assent of the other partners may he proved by positive or circumstantial evidence; but their assent or ratification cannot be inferred simply from the fact that the partner owing the money agreed to allow the credit. Should it appear that the other partners knew of such a settlement, or knew or had reason to suppose the creditor relied upon it, they would not be permitted to repudiate it, unless they had given notice, at the earliest practicable period after it had come to their knowledge, that they would not sanction the arrangement.</p> <p>3. Interest—when recoverable. In an action by a bank to recover the balance of an account for money paid out upon'the checks of the defendant, where an account thereof was rendered with the balance struck, such presentation of the account amounts to a demand of payment, and, the account being for money alone, the plaintiff may recover interest, although there was no contract to pay interest, and no custom or usage of the parties requiring it.</p>