Emerick v. Moir

Citations

• 124 Pa. 498
• 17 A. 1
• 1889 Pa. LEXIS 1054

Syllabus

<p>(a) By the terms of a copartnership agreement, one partner was to contribute the whole amount of the capital in cash, against which the other was to apply his skill, judgment, time and attention to the conduct of the business of the firm, each one to receive one half the profits and sustain one half the losses thereof.</p> <p>(b) The partner contributing no capital, was to receive a certain sum per annum, payable monthly, which was' to be considered as a portion deducted from his share of the profits, the balance, if any, to be placed to his credit, until the amount so credited should equal the amount of cash capital contributed by the other partner.</p> <p>1. On a case stated showing the foregoing facts and that, at a period before the end of the term provided for in the agreement, all the capital had been lost and the copartnership dissolved by a decree of court, the partner who contributed the cash capital was entitled to recover the one half thereof from his copartner.</p>