First National Bank v. Creveling

Citations

• 177 Pa. 270
• 35 A. 595
• 1896 Pa. LEXIS 975

Syllabus

<p>Limited partnership association — Schedule—Description of real estate— Omitting of lien — Act of June 2, 1874.</p> <p>Under the limited partnership association act of June 2, 1874, P. L. 271, as amended by the act of May 1, 1876, P. L. 89, a schedule which enumerates real estate as contributed at a certain valuation, without any reference whatever to an existing lien on the real estate, is defective, and the members of the association are liable for its debts as general partners.</p> <p>Limited partnership association — Subscription books — Payment of subscriptions — Act of June 2, 1874.</p> <p>Failure to keep a subscription list book by a limited partnership association organized under the act of June 2,1874, renders the association a general partnership.</p> <p>The articles of a limited partnership association under the act of June 2, 1874, must provide a fixed time at which subscriptions to the capital should be paid.</p>