levy on partnership property
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 66 U.S. 346 - Clagett v. Kilbourne · 1861Most cited · 16 citing opinions
The purchaser takes the same interest in the property which the judgment debtor would have upon a final adjustment of all the accounts of the partnership. It is not only an undivided, but an unascertained interest, and the purchaser is substituted to the rights and interests of the judgment debtor in the property sold. Neither does the sale transfer any part of the joint property to the purchaser, so as to entitle him to take it from the other partners.