Stark v. Howcott

Citations

• 118 La. 489
• 43 So. 61
• 1907 La. LEXIS 751

Syllabus

<p>1. Partnership — Action for Settlement-Decree.</p> <p>Where an action is plainly for the settlement of a partnership, and for a division of profits, a prayer for general relief will authorize a decree for any balance that may be found due the plaintiff on a settlement of accounts.</p> <p>[Ed. Note. — Eor cases in point, see Cent. Dig. vol. 38, Partnership, § 816.)</p> <p>2. Same — Liability for Losses.</p> <p>In the absence of express agreement, each partner is bound for bis full share of the losses as shown by a general settlement of accounts, and the number of transactions involved or the assignment of one partner’s right to profits in particular transactions cannot change the rule.</p> <p>[Ed. Note. — For cases in point, see Cent. Dig. voi. 38, Partnership, § 135.]</p> <p>(Syllabus by the Court.)</p>