Wulff v. Superior Court

Citations

• 110 Cal. 215
• 42 P. 638
• 1895 Cal. LEXIS 1042

Syllabus

<p>Partnership—Action for Dissolution — Sale of Assets by Receiver before Decree—Jurisdiction.—In an action for an accounting and dissolution of a partnership, where the assets of the business have been placed in the hands of a receiver, and it appears to the court that they are not equal to the liabilities of the firm, and that the business has been carried on by the receiver at a loss, and that the loss will be further increased if the business is continued, and that it is for the best interest of the partnership that the business be sold as a whole, the court has jurisdiction to order a sale of the business, as being in its nature perishable property, prior to a decree of dissolution of the partnership.</p> <p>Id.—Necessity of Sale—Preservation of Assets—Power of Court.—. The court has the power to sell partnership assets by reason of an actual present necessity of sale, in order that the assets may be preserved to the final interest of the parties interested therein.</p>