Case ID: tex-l-r_3/html/0441-02.html
Source: Caselaw Access Project
Author: {"author": "Willson, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

GEO. GILL VS. J. M. WILSON, ET AL.
    Appeal from Johnson county.
    
      Partnership — Fstoppel.—Where the articles of partnership contain a limit upon the price to be paid for the articles dealt in, and one partner makes a purchase for a price exceeding that limit, and the other partner, when informed of such purchase, objects, but after-wards to prevent loss of money advanced, be takes the articles and sells the same, it is held, that the .latter is not thereby estopped from claiming that the former should bear the loss to the extent that he exceeded the limit in making the purchase.
    
      Profits. — If one partner uses the funds of the partnership so that profits accrue therefrom, such profits belong to the partnership.
   Opinion by

Willson, J.