Corner v. Gilman

Robinson, J., delivered the opinion of the Court. This bill is filed by the complainant, formerly a member of the firm of Abbott & Corner. It alleges that Abbott & Sons were indebted to Abbott & Corner in the sum of $5802.96, and that reckoning said debt as part of the assets of the firm, there is due to him $1973.02, being the amount of his share as partner in the said debt of $5802.96, due by Abbott. & Sons to Abbott & Corner. The bill prays that a decree may be passed against each of the parties defendant for the payment of said sum of $1973.02.

This, then, is a bill filed by one member of a firm against the members of another firm to obtain against them, and each of them, a decree for the payment of what is alleged to be the complainant’s share of an indebtedness by the latter firm to the firm of which the complainant was a member. Unless otherwise provided for by contract, partners are joint owners and possessors of all the capital stock and assets of the partnership. There is an entire community of right and interest therein between the partners, and each has a concurrent title to all the property belonging to the firm. Mo one partner has any right to share in the partnership property, except what remains after the payment of the partnership debts, and each partner has the right to have the same applied to the due discharge and payment of all such debts.

It is clear, therefore, that this Court has no power to adjudge $1973.02, or any other sum, to the complainant as his share of the alleged indebtedness of the firm of Abbott & Sons to Abbott & Corner, until it is first ascertained