Webster v. Lanum

Citations

• 137 F. 376
• 70 C.C.A. 56
• 1905 U.S. App. LEXIS 4547

Syllabus

<p>Tumited Partnerships—Liability oe Special Partner—New York Statute.</p> <p>Under tbe New York statute providing for the formation of limited partnerships, which requires the filing of a certificate showing the amount of capital contributed by a special partner, and an affidavit that such, capital has been “actually and in good faith paid in in cash,” and makes, him liable as a general partner in ease such certificate or affidavit is false, but contains no provision with respect to the capital of the general partners, nor requirement that the same shall be shown, it is immaterial where a special partner obtains the money which he puts in, if it is actually paid in cash, so that it may be used by the firm as capital, and he is not liable as a general, partner because of the fact that the money was furnished to him as a loan or gift by third persons, or by a pre-existing firm merged into the new partnership or its members.</p>