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78 N.H. 437

101 A 636

Thrasher v. Lawrence

Supreme Court of New Hampshire

Decided June 5, 1917

Supreme Court of New Hampshire · decided 1917-06-05

Bill in Equity, to wind up a partnership. Hearing by a master who found that the plaintiff having acquired the right to purchase two adjoining tracts of timber land for about half their value, entered into an oral agreement of partnership with the defendants “the terms of which were that in consideration that the plaintiff would share with the defendants the benefit of his efforts in securing the lots, and would look after and see to selling the same, the defendants were to…

Relies on Parker v. Bowles · Messer v. Messer · Foster v. Sargent

Decided 1917-06-05

Young, J.

¶1 The only conclusion that can be drawn from the findings of the master is that the plaintiff bought the land with the assets, of the partnership, which consisted of his right to buy it for one half its actual value and the money contributed by the defendants. There is no finding or anything that can be construed as a finding that the defendants paid for the land or that their money paid for it. Since the land was bought with partnership assets, the defendants hold it as trustees for the partnership; Parker v. Bowles, 57 N. H. 491, 495; Messer v. Messer, 59 N. H. 375; Foster v. Sargent, 72 N. H. 170; and as they have refused to dispose of it for the benefit of the partnership the plaintiff is entitled to have a trustee appointed who will dispose of it and distribute the assets in accordance with the order of the court. ,

¶2 Exception overruled.

All concurred.
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