Zimmerman v. Harding

Citations

• 227 U.S. 489
• 33 S. Ct. 387
• 57 L. Ed. 608
• 1913 U.S. LEXIS 2323

Syllabus

<p>A partnership formed to run a-hotel for which a lease is obtained held in the absence-of any stipulation as to duration to be for thp term of the lease:</p> <p>Where partnerships' are regulated by statute, as In Porto Iti.co, the ' rights of one attempting to dissolve depend upon the statute rather than on general law applicable elsewhere.</p> <p>The right- to dissolve under § 1007; Civil Code Porto Rico, is confined to partnerships the duration of which has not been fixed; under 5: 1609- a partnership for fixed duration can only be dissolved for sufficient cause shown to the court, and one attempting to dissolve before the fixed termination and to exclude the other from participation must account to the. latter for his share of the profits until the court decrees a dissolution in a Suit brought to dissolve.</p> <p>Partnership property continues to be such after as well as before dissolution. ■</p> <p>■Where one party attempts to illegally-dissolve a partnership without, suit- and subsequently the other brings a suit for dissolution in accordance, with the statute the former must account for all profits until the final decree of dissolution.</p> <p>The doctrine of election is applicable as between inconsistent remedies; but. does not- apply to a partner .wrongfully excluded from participation. He does not lose Bis right to an accounting because he first starts an action at law which he subsequent & dismisses.</p> <p>There may be a recovery at law.for damages resulting from a breach of the partnership agreement, as well as an action for' accounting in equity for the same breach, and a partner wrongfully excluded from . management and profits need not wait for the end of the period but-may show in an action at law his probable profits.</p> <p>One who wrongfully excludes the other partner from management of the. partnership affairs'is not entitled to a salary for managing them during such period of exclusion.</p> <p>This court can only review’ an improper allowance