Compact

An agreement or contract — between independent sovereignties.! Original or social compact. The implied contract of association of individuals in a community, by which, in return for the beneiits of the association, the individual surrenders such of his natural freedom as is necessary for the good of society. Thereby, whatever power the individual had to punish offenses against the law of nature is vested in the magistrate — the sovereign power.''

See Body, 2, Corporate. COMPAiry. 1.

The member of a partnership (q. V.) whose name does not appear in the name of the firm. The use of the collective designation " & Co.," as part of the name of a firm, creates a presumption that there is a partner in addition to the person or persons whose names are given; but this presumption is rebuttable. Statutes in Louisiana and New York forbid the use of the addition unless an actual partner is represented by it; but a fanciful title, such as "Eureka Co.," may still be used; and the reference may be to a person under disability. Such statutes are intended to protect persons who give credit to, not those who obtain credit from, a flrm.»

3.

Applied to persons 'engaged in trade, those united for the same purpose or in a joint concern.* "Company" or" association," when used in the Eevised Statutes, acts or resolutions of Congress, in reference to corporations, shall be deemd to embrace the words " successors and assigns of such company or association " in like manner as if these last-named words, or words of similar import, were expressed. » The simple word " company " will include individuals as well as corporations.' Often designates a numerous association, chartered or unchartered. Every imincorporated company is a partnership.

See Association; Partnership, Limited; Stock, 3 (2); Bubble; Express; Prospectus; Eailroad; Tei/eqraph; Transportation. ' See 8 Wheat. 92; 11 Pet. 185; 1 Bl. Com. 45. 2 1 Bl. Com. 233, 299; 3 id. 160; 4 id. 8, 71, 382. See 1 Shars. Bl. Com. 232; Atlantic Monthly, June, 1887, p.

760, article by A. L. Lowell, who undertakes to show that the theory, first propounded in 1594 by Eichard Hooker, adopted by Hobbs, Locke, Rousseau, the framers of the constitution of Massachusetts, and Kant, has been made the servant of absolutism, democracy, revolution, and transcendental ethics. s 1 Bates, Partn. §§ 191, 198, cases; Gay v. Seibold, 97 N. Y. 476 (1884); Lauferty v. Wheeler, 11 Daly, 197 (1882); Zimmerman v. Erhard, 83 N. Y. 76 (1880); Kent V. Mojoiner, 36 La. An. 259 (1884). • Palmer v. Pinkham, 33 Me. 36 (1851), Shepley, C. J.