Woodson v. Wood

Citations

• 84 Va. 478
• 5 S.E. 277
• 1888 Va. LEXIS 99

Syllabus

<p>1. Partnership—Dissolution—Power of partner.—After dissolution no partner can create a cause of action against the other partners except by a new authority conferred upon him for that purpose, whether the consideration be a pre-existing debt of the firm, or any auxiliary consideration that might prove beneficial to them. Bell v. Morrison, 1 Peters, 352.</p> <p>2. Idem—In liquidation—Notice.—Indorsement on a negotiable note of the words “ in liquidation ” has often been held sufficient to give notice of the dissolution of the partnership, and no recovery can be had on such indorsement against the other partners.</p> <p>3. Idem—Instructions—Case at bar.—P. & W. dissolved partnership. Notice of dissolution stated that either partner was authorized to use the firm name in liquidation. Later, P. took from a debtor of the firm, in settlement, a negotiable note payable “ to P. & W. in liquidation.” This note P. transferred to plaintiff by a like indorsement. At trial the jury were instructed that W. must prove that the note was not used for the firm purposes, else they should find for plaintiff:</p> <p>Held:</p> <p>Error.</p>