Court Opinion

ID: 9828649
Source: CourtListenerOpinion
Date Created: 2023-09-01 18:35:41.295022+00
Date Added: 2024-06-11T07:42:51.429918
License: Public Domain

On Motion for Rehearing.
Appellees have filed a motion for rehearing asking us, among other things, to correct two alleged incorrect statements in our opinion. The first statement alleged to be incorrect is as follows:' “Davis was to later pay for his one-third interest in this machinery,” and the other “that Davis never did pay anything upon the equipment advanced to the partnership.” Appellees contend that the true and correct statement should have been that Mangum and McCarty loaned the pulling machine to the partnership, composed of McCarty, Man-gum and Davis, and that the partnership was to pay to McCarty and Mangum the sum of $2,990.25 for the machine out of the profits of -the business, or when the company got on “velvet;” as one witness expressed it. That the company did get on velvet and had sufficient profits on hand out of which to have paid for such machine, but failed to do so and therefore the partnership was indebted to McCarty and Mangum in the sum of $2,990.25, together with inter'est. In our opinion, if the company had on hand the sum of $2,990.25, as profits of the business, each partner would own one-third of such profits and if the entire sum was paid over to McCarty and Mangum they would only be receiving, in addition to what was already theirs, the one-third that belonged to Davis. We therefore conclude that we made a correct though brief statement of the facts when we said that Davis was later to pay his one-third of the purchase price of the machine, and that he did not do so.
However, be that as it may, appel-lees were precluded from recovering anything in the nature of purchase price of the pulling machine by the contract of dissolution, which they executed for a consideration of $15,000, and which provided that it was a full and final settlement of their affairs.
The motion for a rehearing has been considered and is in all things overruled.