Oriental Realty Co. v. Taylor

Citations

• 69 Wash. 115
• 124 P. 489
• 1912 Wash. LEXIS 855

Syllabus

<p>Partnership—Contract—Construction—Joint Adventures. A partnership is created by an agreement between two persons to enter into the business of dealing in tax titles, whereby one was to conduct the business and the other was to furnish what money he deemed advisable, to hold the title, and to receive bach his advances and interest, before even division of the balance as profits; especially where the parties in a subsequent written agreement refer to the relation as a copartnership.</p> <p>Trusts—Principal and Agent—Agency With Interest. There is an agency with an interest, where a principal takes tax titles, obtained by his agent, under an agreement to divide the profits equally, after return of the money advanced with interest; and the principal holds the title in trust and is liable to an accounting.</p> <p>Assignments—-Property Assignable—Agency With Interest. Where property is held in trust for an agent, and subject to an accounting for profits, the agent’s interest is assignable.</p>