Holmes v. Ferguson-McKinney Dry Goods Co.

Citations

• 86 Miss. 782

Syllabus

<p>1. Pabtnbbship. Inctvuidual assets.. Disposition.</p> <p>Members of a copartnership may dispose of their individual property as they see fit, if there be sufficient partnership assets to satisfy all firm debts.</p> <p>2. Same. Fraudulent conveyances.• Insolvency. Fraud.</p> <p>Where the creditors of a partnership sue to vacate conveyances bf individual' property by the partners, the burden is on them to show, that the conveyances were fraudulent and that the firm was insolvent.</p> <p>3. Same. • Grantee’s assumption of grantor's debt.</p> <p>An agreement by a grantee to assume and pay a debt due from the grantor to a third person is a valuable consideration and will support the grant, although the third person has never accepted the grantee as his debtor.</p> <p>4. Constitutional Law. Constitution 1890, sec. 147. Supreme court prac- ' tice.</p> <p>Under Constitution 1890, sec. 147, providing that no judgment or decree rendered in any chancery or-circuit court in a civil case shall be reversed for want of jurisdiction to render the judg; ment or decree because of any error as to whether the cause in which it was rendered was of equity- or common-law jurisdiction, a personal judgment against the' members of a firm for a firm debt, rendered in a suit to set aside alleged fraudulent conveyances by them, does not constitute reversible error.</p>