Scroggs v. Cunningham

Citations

• 81 Ill. 110

Syllabus

<p>1. Contract—as to partnership account, construed. Where articles of partnership provided for an annual account to be taken, and the payment to each partner of his share of the net profits, and just before the expiration of the year a dissolution was agreed upon, in which it was stipulated, in writing, an account should be taken “between said parties, to include only moneys drawn by the parties since” the last preceding settlement, “as provided” in the articles of partnership: Held, that the subsequent agreement must be construed with the original articles, and when considered with them, required the account to include all of the individual accounts of each partner, whether for moneys received or drawn out, or for any other indebt, edness to the firm.</p> <p>• 2. Chancery practice—re-referring to master on sustaining exceptions to his account. Where the master states a partnership account, and an exception is sustained as to one item only, charged to one partner, it is not necessary to refer the case back to the master, but the court may find and state the account.</p> <p>3. Interest—on pa/rtn&i'ship account. Where a partner agrees, in writing, to exhibit a partnership account on a certain day, and make settlement, and on that day refuses and withholds .the books, he is properly chargeable with interest from such day on any balance found against him, on bill for an account, up to the date of the first decree.</p>