This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1847 edition. Excerpt: ...One partner may draw, accept and endorse, notes and bills of exchange, in the name and for the use of the firm; and a note or bill executed by one partner in the name of the firm, is primri facie evidence that it was executed rightfully and for partnership purposes, and if not so executed, it lies upon ...
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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1847 edition. Excerpt: ...One partner may draw, accept and endorse, notes and bills of exchange, in the name and for the use of the firm; and a note or bill executed by one partner in the name of the firm, is primri facie evidence that it was executed rightfully and for partnership purposes, and if not so executed, it lies upon the other party to impeach it, by showing that it was given for an object beyond the scope of the authority of a partner; Le Roy, Bayard & Co. v. Johnson, 2 Peters, 187. 197; Whitaker v. Brown, 16 Wendell, 505. 507. 511; Rochester v. Trotter et al., 1 Marshall's Kentucky, 54; Magill v. Merrie & Bullin, 5 B. Monroe, 168. 171; Ensminger v. Marvin, 5 Blackford, 210. One partner may borrow money, in the name, and on the credit, of the firm, by note, bill, or otherwise, and all will be liable, though the money, when obtained, be appropriated to the use of the partner borrowing it. if there was nothing at the time of the loan, to create a suspicion of fraud: Winship et al. v. The Bank of the United States, 5 Peters, 530; Church v. Sparrow, 5 Wendell, 2'23; Whitaker v. Brown, 16 Id. 505; Onondaga Co. Bank v. De Puy, 17 Id. 47; Miller v. Manice, 6 Hill's N. Y. 115.119; Steel v. Jennings & Beatty, Cheves' Law, 183; Emerson v. Harmon, 14 Maine, 271; Bascom v. Young, 7 Missouri, 1. 4. One partner may purchase goods for the firm within the scope of the partnership business; Feigley v. Sponeberger, 5 Watts & Sergeant, 564; pay debts of the firm; Tyson 8n others v. Pollock, 1 Pennsylvania, 375; receive payment in money or commoditiesin discharge ofdebtsdue to the firm; MKee & M-Elhenney v. Stroup, Rice, 291; and generally do all acts ordinarily done by the firm. The firm will be liable also civilly for fraudulent...
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