Herman v. Potamkin

Citations

• 24 Pa. Super. 11
• 1903 Pa. Super. LEXIS 288

Syllabus

<p>Partnership — Accounting—Judgment note — Opening judgment.</p> <p>Partnership articles provided that as security for the performance of the covenants therein contained each of the parties should deposit a judgment note with a notary to be “ retained for the uses of the copartnership, and if any of the parties fail to well and truly do and perform any of their duties in manner hereinafter set forth, the notes of such copartner should be given to the remaining partners at the discretion ” of the notary. After the dissolution of the firm the notary gave the notes to one of the partners who claimed a considerable sum for advances to the firm, in addition to his share of profits. The latter entered up the notes. On a rule to open one of the judgments, held, (1) that the partnership agreement did not contemplate that the notes should be used by one of the partners to enforce claims against the others without any prior accounting; (2) that the judgment should be opened to permit the defendant to be heard on his denial of liability on the notes.</p>