Case Name: Abel T. Atherton vs. W. H. Goldsmith
Court: Supreme Court of Rhode Island
Jurisdiction: Rhode Island
Decision Date: 1901-02-01
Citations: 22 R.I. 376
Docket Number: 
Parties: Abel T. Atherton vs. W. H. Goldsmith.
Judges: ^ Present : Stiness, C. J., Tillinghast and Douglas, JJ.
Reporter: Rhode Island Reports
Volume: 22
Pages: 376–377

Head Matter:
Abel T. Atherton vs. W. H. Goldsmith.
PROVIDENCE
FEBRUARY 1, 1901.
^ Present : Stiness, C. J., Tillinghast and Douglas, JJ.
(1) Assumpsit. Acaowut. Partnership.
A. and B. agreed to share the gains and losses of a particular adventure. A. furnished a certain sum of money and loaned B. an equal amount to enable him to furnish his share of the capital Held, that assumpsit would lie in favor of A. to recover the money loaned.
Assumpsit. The facts appear in the opinion.
Heard on p'etition of plaintiff for a new trial, and new trial granted.

Opinion:
Per Curiam.
The nonsuit in this case was erroneously granted.
In Dowling v. Clarke, 13 R. I. 134, the claim was for an unascertained balance claimed to be due on a partnership account, and for this it was held that assumpsit would not lie.
In Fry v. Potter, 12 R. I. 542, however, a case like the present one, it was held that assumpsit would lie, because, there being no general copartnership, but only an agreement to share the gains and losses of a particular adventure, and nothing outstanding to be adjusted, the transaction was closed and the losses ascertained.
Jacob W. Mathewson, and George T. Broivn, for plaintiff.
Edward D. Bassett, for defendant.
This case is even stronger, from the plaintiff's testimony that the money sued for was a loan to the defendant to enable him to the speculation of purchasing options on land.
Petition for new trial granted.