Noyes v. Nichols

Citations

• 63 Kan. 453
• 65 P. 646
• 1901 Kan. LEXIS 168

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Partnership — Dissolution Agreement — Release of Partners. A. and B. were in partnership and B. sold out to A., who agreed to pay all of the partnership debts. A. then gave to-his wife a chattel mortgage on the entire stock of goods, with power therein to sell them at private sale. Under this power she sold them to a firm of partnership creditors for less than half what they were worth, so that such creditors realized on a resale of the goods, over and above what they had paid for them, sufficient funds to discharge their claim against the partnership. Held, that, this being done without any knowledge on the part of such creditors of the assumption of the partnership debts by A., B. was not thereby discharged from his liability on the partnership indebtedness.</p>