Welch v. Miller

Citations

• 210 Pa. 204
• 59 A. 1065
• 1904 Pa. LEXIS 871

Syllabus

<p>Partnership—Accounting for profits—Single transaction—Assumpsit— Equity.</p> <p>Where a partnership is for a single transaction such as the purchase and resale of a particular piece of real estate, one partner does not have to maintain against another a bill in equity for an accounting and for the share of the profits, but he may proceed in law by assumpsit.</p> <p>In an action of assumpsit it appeared that the two plaintiffs had entered into an agreement with the two defendants to purchase and resell a piece of real estate, the profits of the transaction to be divided one half to plaintiffs and one half to defendants. One of the defendants contended that he only received a small portion of the sum in question from his associate. Held, that the contention could not be maintained as a defense, since he was joint!}' liable for the whole amount claimed by plaintiffs.</p> <p>In the above case the defendants contended that as a mortgage had been taken for a share of the purchase money, and as this had not become due or been paid, the action was premature. The affidavit of defense denied the contract, and the case was tried on that issue alone. Held, that under the circumstances it was too late to claim that the action was premature.</p>