Mooney v. Nagel

Citations

• 24 Ohio C.C. Dec. 119

Syllabus

<p>INTEREST — PARTNERSHIP.</p> <p>¡Member of a Land Syndicate Rendering Services.in Lieu of Money Advanced is Partner and After Payment of Money so Advanced is Entitled to his Share in Proceeds Without Interest;</p> <p>An agreement to form a syndicate for the purchase and sale of real estate, in which all but one of the stockholders was to pay for the purchase of his own share and also his proportional part of money to be advanced to such one, a sort of managing agent, for his share, to whom no part of any of the proceeds of the sales of said real estate should be paid “until the sums advanced for the purchase thereof together with all interest and other costs shall first have been repaid,” fixes his status as a partner; having performed all the conditions by him to be performed, such partner is entitled to receive his share of the proceeds of the enterprise after payment to the stockholders of the amounts advanced by them without interest.</p>