Toof, Phillips & Cirode v. Duncan

Citations

• 45 Miss. 48

Syllabus

<p>1. Partnership—special agreement—power op each partner in an “adventure.”—A written contract of partnership in an “adventure” limited to specified transactions in a single article of trade for three months, does not give to the parties such power to bind the firm as is possessed by partners in cases of permanent and general mercantile transactions.</p> <p>3. Same — case in judgment.—T., P. and C. constituting a firm, entered into ,a written agreement with F. to engage in shipping and selling cotton for the period of three months. In December, 1864, F. was in Washington county, Mississippi, on a trading expedition under this oontract, and D., a resident of Greenville, who had notice of the agreement between T., P. & C. and F., asked F. to take up to Memphis a draft on a firm there and collect for Mm, and bring the money down, and handed F. a draft on C., N. & S., of Memphis, drawn in favor of F., who took it to Memphis and indorsed it to T., P. & 0., requesting them to oolieot it and place the proceeds to his credit, which was done, and subsequently tbe money was withdrawn by E\\, who failed to pay it oyer to D.: Seld, that T., P. & C. were not liable to D. for tbe proceeds of the draft.</p>