First National Bank v. Schuetz

Citations

• 103 Kan. 229
• 173 P. 278
• 1918 Kan. LEXIS 230

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Partnership — Garnishment—Rights of Creditors of Individual Partners. Although the assets of a firm are to be applied in paying its debts to outsiders before either partner is to receive any portion thereof, the individual creditors of a partner are not entitled to the same priority. They have a right' to his individual interest only, and this is his share of what may remain after payment of the partnership debts, and after a settlement of the accounts between the partners.</p> <p>2. Same — Garnishment—Creditors of Individual Partner — What Property May be Reached. Where, in an action against an individual partner, the funds of the firm are garnisheed, the plaintiff acquires by his garnishment an interest only to the extent of the share of the debtor, which is his interest in the balance which remains after the firm’s debts and the equities of partners are satisfiedand, further, where in such an action the court has before it all the parties claiming an interest in the fund, it is proper to take an account of the partnership affairs.</p>