Wright v. Brosseau

Citations

• 73 Ill. 381

Syllabus

<p>1. Partnership—authority of pm'tner to execute notes in firm name. The implied authority of one partner to make notes in the firm name, and so bind the firm, extends only to transactions in reference to the business of the partnership, and on partnership account.</p> <p>3. Same—a new pm'tner, coming into an existing firm, will not be liable in respect to debts contracted by the firm previously to his entering it, unless he expressly assumes them.</p> <p>3. Same—liable on partnership paper in hands of bona fide indorsee, for value, though executed through fraud of one partner. If the holder of a partnership negotiable security, issued through the fraud of one of the partners, shows himself to be a bona, fide indorsee for value, without notice of the fraud, the paper in such hands is binding on the firm.</p> <p>4. In a suit on partnership paper, where the defendants show that the paper was executed by a partner in fraud of the firm, it throws the burden of proof on the plaintiff, to show that he came by the note fairly and without knowledge of the fraud, and that lie paid a consideration for it.</p> <p>5. Instructions—underscoring portions of, not approved. The underscoring of portions of an instruction is not a practice to he approved of, as it may mislead the jury to give undue weight to such portions, to the undervaluing of other parts of the instruction.</p>