The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1906-08-04
women IN BUSINESS
TIE SUBJECT OF PARTNERSHIP
FULLY EXPLAINED.


FULLY EXPLAINED.
Whist . Woman Should Know About
Her Partner: Has He Honesty,
Business Ability and Good Judg-
nasnt-Each Member of Firm LA
able for All Its Dsbts-A Married
Woman Cannot Become Her Hus-
bands Business Partnsr-Ths Du-
Ties Of q ouardtan-Whsn Com
pound Interest Is Usury - one
eottabls" Notes Are Transfsra BILE.
az KATHERINE LOUISE SMITH.
4 woman often enters into partner
ship with some one for the purpose of
carrying on business. Formerly this
was confined to such enterprises as
millinery stores, notion stores. and
stores of similar nature, where the
trade would be largely derived from
women, but to-day women have en-
tered all fields. and there are few
forms of business she has not under
taken. either as principal. agent or
clerk. No matter in which of these
capacities she figures 1t Is we'll for
her to understand some Of the re-
quirements of partnership. II she
does not herself enter into partner
ship with some one. she may be asked
By husband or friend for advice, which
she cannot give understandingly TN
less she knows partners liabilities.
Or she may be obliged to settle an
estate OF some one who at the time
OF his death was partner in AFFIRM.
When a partnership is formed, the
length of time for its duration is often
given. II not. 1t may cease any time
by mutual consent. The death of q
partner. OF course. dissolves the firm.
Insolvency or gross misconduct or
some other legitimate cause may also
do SO. When the partnership is dis
solved a general notice published in
the newspaper gives warning to for
mer debtors or customers of the firm
III the dissolution OF partnership all
debts must first be paid, when the bal
ance of the assets, II any remain. are
divided among the partners according
to their share in the firm. II there is
not sufficient money to pay the debts
the partners must each contribute
their proportion to make up the de-
fcienry.
All persons capable OF making a
valid agreement may enter into part
nesship and woman making such a
mnve should remember that one part
ner can be the agent of others and
sell partnership property which is
he'd for sale or can indorse or can
transfer orders or checks belonging to
the firm. Also one partner can give
q note or borrow money in the name
OF the firm for partnership purposes.
and can collect and pay debts due the
firm. For this reason 1t is advisable
to know something Of the honesty
and business capacity and good judg
ment Of a party before entering into
business with him. 1t has happened
that one partner who has besn lack
ing in judgment has caused both to
suffer. The appropriation of funds
belonging to Arm by partner is not
elubezzlement and there are many rea-
sons of this nature why one should
be careful before entering into the re-
lation.
One phase of partnership should be
clearly understood and this is that
each partner is liable for all the debts
of the firm. Cases have been where
both partners gave security for debts,
one worthless securities as time
proved. and the other good ones. The
last suffered and the first had the sat
1sfaction of feeling that the debt was
paid with no effort on his part. When
a clerk, salesman or wage-worker re-
ceives a share of the profits of firm.
as in the numerous profit-sharing
concerns. he Is not liable for the
debts of the firm rs a partner. This
is on the ground that he is working
for wages.
Formerly a married woman could
DOT enter into partnership with any
one. but now the general rule is that
q woman can form partnership
which will bind her separate estate
but cannot join firm of which her
husband is a member, OF enter Into
partnership with her husband.
~ have been appointed guardian of
. young child. What are my duties?"
"A Maiden Aunt.
A guardian is strictly speaking
trustee and the ward is the person for
whom the guardian is appointed. In
tome cases guardians are obliged to
give bonds. You will be expected to
have charge Of your wards person and
property but cannot sell his real
estate without authority from the
proper court. II any benefit iaccrues
from the sale of his property 1t is due
the ward and you will be held strict
ly accountable for the management Of
his funds, for their misuse and for
letting them remain idle. The
guardianship IL . trust SO personal
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