Stuart v. McKichan

Citations

• 74 Ill. 122

Syllabus

<p>1. Books of account—presumed to be correct, as between partners. Partnership books of account are presumed to contain a true history of the business and a true record of the transactions between the partners. In the absence of proof to the contrary, reliance is properly placed on such books in stating the partnership account.</p> <p>2. Partnership—right of pa/rtner to credit for interest paid. Where one is taken as a partner in a business on account of his financial credit, and to raise money to prosecute the business, and he is credited by the book-keeper for the interest paid by him in procuring loans, and the other partner having examined the books, makes no objection to such entries, they may properly be allowed in stating the partnership account.</p>