Ross v. Cornell

Citations

• 45 Cal. 133

Syllabus

<p>Suit at Law by One Partner Against Another.—If a copartner, even by consent, retires from the firm of which he is a member, a suit at law cannot be maintained against him by the members who remain in the firm, for money alleged to be due from him to them in the copartnership transactions, unless there has been a final settlement of all the firm accounts and a balance has been struck.</p> <p>Idem.—In such case, if there are two or more members who remain in the firm, they cannot maintain a joint action at law against the member who retired from the firm.</p> <p>Effect of One of Several Partners Eetiring from the Firm.— If, in a case where there are several members of a partnership, one of them, even by consent, retires from the firm, this dissolution necessarily severs the copartnership relations of each of its members.</p> <p>What Necessary, for Partner to Sue Copartner at Law.—It may not be necessary, in order to enable a partner to maintain an action at law against a copartner, or one who has been such, to show an express promise to pay a sum ascertained as a balance due, but the balance itself must be one which has been ascertained by the act of all the partners, and agreed to as constituting such balance.</p>