Eastburn v. Eddleblute

Citations

• 53 Pa. Super. 234
• 1913 Pa. Super. LEXIS 158

Syllabus

<p>Partnership — Sale of partnership assets — Consent by partner — Consideration — Contract.</p> <p>Where a partner who has not been active in the copartnership business, and has no knowledge of its affairs, is informed by one of the active partners that the business has not been profitable, although no money has been lost, and that the property of the firm is to be sold, and the non-active partner consents to the sale in consideration of a promise by the active partner to repay him his cash contribution to the partnership, such promise is based upon a sufficient consideration; and this is especially so where it appears that the non-active partner was not told the purchase price of the property, or how it was to be applied, but resting on the promise, made no inquiry as to the correctness of large credits allowed the active partners, and did not in any way interfere with the settlement of the partnership business.</p>