Public-domain · open source
OpenJurist

2 Miss. Dec. 59

Walker v. Ivey

Mississippi Supreme Court

Decided January 9, 1882

Mississippi Supreme Court · decided 1882-01-09

J. H. Walker and J. W. Ivey were partners in a mercantile business, baving a stock of goods estimated at $2,200. They owed some debts and had some debts due them. The firm owed Ivey about $6,000. On March 6, 1876, the stock of goods was sold to one Morgan. The evidence showed that a few days before the sale to Morgan he proposed to Ivey to trade for the stocks of goods if Ivey or the firm would take a tract of land at a price named by him.

Relies on Ivy v. Walker

Affirmed, · Decided 1882-01-09

¶1Opinion.

Cooper, J.:

¶2This case has heretofore been before this court and is reported in 58 Miss. 253.

¶3We are unable to perceive any material change in the testimony from that given on the former trial. The contract between the parties was simply that Ivey was to become the owner of the stock of goods, paying therefor the cost thereof, less 10 per cent., There is no evidence whatever of an agreement that the stock was withdrawn from the partnership and held by the former partners as tenants in common at the time of the sale. In the absence of such evidence, the sale gave to Walker no right of action at law against his partner. Ivey was authorized to appropriate the purchase price to the payment of any debt due by the firm, either to a third person or to himself. On a final accounting as to all partnership matters he will be liable to account to his partner touching the distribution of the fund, and the correlative power of the other partner to have such account is the measure of his right.

¶4Judgment affirmed.

/2/missdec/59 · .json · Public domain