Pitts v. Spotts & Gibson

Citations

• 86 Va. 71
• 9 S.E. 501
• 1889 Va. LEXIS 10

Syllabus

<p>1. Practice at law—Partners—Joint action—Confession of judgment by one— Case at bar.—In joint action against partners, judgment is confessed by one, and later, during the same term, is rendered against the otherheld, cause of action was not merged by the confession, and the judgment rendered is valid, though the rule is, that a judgment against one of a firm on a joint liability, merges the original cause of action, and bars another suit against the remaining partners.</p> <p>2. Partnership—Separate assets—Priority.—Judgment of firm creditor against each partner is paramount as to their individual assets to any unsecured claim against either of them.</p> <p>3. Irani—Marshaling assets*— Such firm creditor must exhaust the partnership assets before resorting to the individual assets.</p> <p>4. Appellate court—Jurisdiction—Case at bar.-*-It is the amount of the judgment sought to be satisfied out of the real estate, and not the value of the latter, which gives this court jurisdiction. Here the former exceeds the minimum jurisdictional limit.</p>