Evans v. Hanson

Citations

• 42 Ill. 234

Syllabus

<p>1. Partnership—payment of money Try an incoming partner—to wlcom it belongs. Two persons, being engaged in the produce and commission business, as partners, received another into the firm, who paid a sum of money for the purpose indicated in the following receipt, given him by the two original members of the firm:</p> <p>“ Received of William Evans, two thousand dollars, for and in consideration of one-half interest in one safe, two desks, two pair of scales, one stove and pipe; also the undivided half of our trade and good will, and the benefit accruing therefrom; also one-half of the contract of potatoes for future delivery, and the benefits of the same as per contract of copartnership, made this date between Hanson, Evans and Moore.”</p> <p>Held, the money thus paid belonged to the two original partners, and, being placed to their credit on the books of the new firm, was properly allowed to them on a settlement of its affairs.</p> <p>2. Same—articles of partnership must govern the rights of the parties. Where persons, entering into partnership, enter into a written agreement in respect thereto, all anterior negotiations and propositions, as well as guaranties, if made, are merged in the articles of partnership, and such other instruments as the parties may execute concerning the same.</p>