Moore v. Stevens

Citations

• 60 Miss. 809

Syllabus

<p>Partnership. Scope of partner’s powers. Execution of bond. Interest of firm. Case in judgment.</p> <p>P. executed a deed of trust upon his growing crop to secure an indebtedness to the firm of M. & S. The crop was seized under a writ of sequestration sued out by B. against P. The latter gave a forthcoming-bond for the products seized, and ¡VI. signed the same, individually, as a surety and also procured D. to become a surety thereon, by representing that the bond was given on bfthalf of the firm of M. & S., who would get the benefit of the products replevied, and who did subsequently receive and sell the same and apply the proceeds to the payment of P.’s debt to them. S. was not consulted about the giving of the bond. Upon their own application M. & S. were made defendants to the proceeding in which-the writ of sequestration was issued. A decree was rendered in that suit requiring the defendants to produce the products replevied, or that the obligors in the forthcoming-bond pay to the complainant the assessed value thereof. The things were not produced and D. was compelled to pay their value. He thereupon filed a bill against S. to compel the defendant to reimburse him for the money which he had been compelled to pay on the bond. Held, that although M. & S., as a firm, were • ' interested in the property sequestered, and afterwards became parties to the suit, and received the proceeds of the property when sold, yet the bond was not binding on S., as it was not within the power of M. as a partner to bind his firm by the execution thereof.</p>